HIPs became a reality two years ago on the 1st August 2007. From that date, initially for 4 bedroom properties only, homeowners, were required to order a HIP become marketing their property for sale in England and Wales.
Since 6th April 2009, you must now actually have a HIP in place, subject to a few exceptions, before you market your home for sale.
HIPs were introduced by the Government with a fanfare of “green” fireworks, with high hopes for both the environment, with the commission of the Energy Performance Certificate and speeding up sales, by ensuring as much information was available at the earliest date in the Conveyancing process
I have searched in vain this week to spot the valedictory photo opportunites: perhaps, the Housing Minister blowing out the candles on a giant HIP birthday cake, or bunting strung from the Communities and Local Government offices. But, no, all were conspicuous by their absence. There they were-gone!
What does it all mean? Could the Conservatives be right about HIPs and New Labour wrong? I have posted previously here and here about the current state of HIPs and their effect on the Housing Market. It is clear much needs to be done. The Government has so far failed to win the argument, and has virtually ceased advertising the benefits of HIPs to the public.
We shall have to wait for a more stable and robust Housing Market, where increased transactions can give a more balanced view. We shall then be able to see what effect HIPs might be having on simplifying and speeding up the home buying and Conveyancing process.
The birthday celebrations have been muted this year. Should we hold our breath for future celebrations? Time will tell.
Paul Hajek
