Judith Heywood, Deputy Property Editor
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Anyone hoping to cash in at what may be the top of the market should hurry. Owners of family homes who want to sell will be forced soon to unearth ancient paperwork and finish off DIY jobs in the hope of impressing an energy inspector whose verdict may affect their sale price.
The extension of home information packs (Hips) to all three-bedroom homes was expected no sooner than October, even by the most bullish of supporters. But the sudden deadline of September 10 for compulsory packs for almost three quarters of homes means that only 15 working days remain to put homes on the market without one.
A flood of family homes for sale could spark temporary life into a flagging market. But it is this kind of sudden distortion that critics, such as estate agents and economists, fear will worsen the shaky prospects for house prices.
Fortunately, the sluggish summer market and the staged introduction of Hips since August 1 have enabled a remarkably smooth debut. The low workload has allowed providers to put in extra work to overcome slow responses from some local authorities or leasehold management companies. Homeowners have noted the absence of horror stories, and fewer will feel the need to sell quickly to avoid one.
The Government has grasped the opportunity of good press, the parliamentary recess and the absence from their offices of big players in the property world to push through the new set of rules. It is a smart move. Among the voices debating the wisdom or otherwise of the packs, and the energy performance certificate that they will contain, are those of Hip businesses and energy inspectors. They invested millions collectively before the launch. Some businesses were forced to close and others had to lay off staff; inspectors were left with huge bills for their training. Granting them more work should mute criticism.
The scheme is faltering no longer and the Association of Home Information Pack Providers predicts that the final tranche of homes will be subject to Hips in October. It seems that, a decade after Labour first raised the idea, the next time your home goes on the market it will be with a Hip.
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