HIPs 'not to blame' for housing market

The Association of Home Information Pack Providers has claimed that Tory politicking over the launch of the Home Information Pack (HIP) shows a misunderstanding of the current problems facing the UK housing market.

Mike Ockenden, director general of the organisation, commented that the problems in the UK market currently stem from a lack of demand for property due to the effects of the credit crunch.

He added that it was this lack of demand in particular which was driving the average price of properties down.

"Our members are reporting that where an offer is secured, HIPs are helping to move to exchange of contracts at record levels thus increasing certainty for buyers and sellers and reducing stress," noted Mr Ockenden.

The programme of HIPs was brought into force on December 14th last year when it was made a legal requirement that all properties sold in the UK must have a HIP at the start of the transaction process.