What Do Estate Agents And Surveyors Think?
The National Association of Estate Agents has always been opposed to HIPs and feels that it is far too soon to be extending the rollout. “In general the feedback we have received from members indicates that there is a certain amount of public confusion since HIPs were introduced,” explains Chief Executive Peter Bolton-King. “Agents have reported a reluctance from owners of four-bedroom properties to put their houses on the market due to a concern that they will have to pay for a HIP if the property is withdrawn. This is something we warned might happen and will not help a hesitant market.” Another critic, the Royal Institution of Chartered Surveyors (RICS), agrees. “The RICS is compiling figures but anecdotally I’d say that there’s quite a dramatic decrease in the number of four-bedroom houses on the market compared to this time last year,” says spokesperson Jeremy Leaf. “Some of this is attributable to higher interest rates but HIPs have had an effect.” Not surprisingly, the Associati
