Abstract
Overview
Introduction
Undoubtedly one of the biggest and most complex legislative changes to take
place in the housing market, HIPs are understandably creating considerable
commotion within the industry. This report draws upon interviews with lenders,
HIP providers and intermediaries to highlight their key arguments and examine
the potential impact of HIPs on the UK market.
Scope
- In-depth assessment of the potential impact of the Home Information Packs
legislation on the UK housing and property markets.
- Draws upon Datamonitor's HIP Survey May 2006, carried out among a pool of
50 intermediaries including estate agents, HIP providers and brokers.
- Draws upon in-depth interviews with industry executives, mortgage lenders
and trade associations representatives.
Report Highlights
A large proportion of interviewees disagree that HIPs will improve the buying
and selling process. Indeed, 40 per cent stated that they either strongly or
slightly disagree that HIPs will do so, compared to 26 per cent agreeing with
the Government.
Datamonitor's survey highlighted that 71 per cent of respondents are expecting
to see an abnormal number of listings for sale prior to 1 June 2007.
The cost element is perhaps one of the most contentious issues with the HIP
legislation. According to the Government, a pack will cost on average £635 to
the seller, of which £300 will account for the HCR. However, many in the
industry believe that the pack is likely to cost more.
Reasons to Purchase
- Prepare your business for the June 2007 deadline by evaluating the
potential impact of the new HIP regulation.
- Enhance your business development strategy by taking advantage of
opportunities arising from the introduction of HIPs.
- Learn about Datamonitor's views on the likely effects of the introduction
of HIPs on the housing and mortgage markets.
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