The Royal Institution of Chartered Surveyors still has serious concerns over the implementation of Hips, despite yesterday’s Government announcement that was aimed at speeding up the home-buying process.
The Governmet yesterday set out a new consultation to promote energy efficiency by proposing estate agents include energy performance certificates.
The consultation also sets out that sellers, for an initial transitional period, will be able to market their home as soon as an EPC and key legal documents are provided as long as searches and leasehold documents have been commissioned. These transitional arrangements will be reviewed after six months.
RICS spokesman Oliver Gilmartin says: “Any attempt by the Government to make the home buying process clear and transparent is to be welcomed. However, we still have serious concerns over the implementation of what is now an incomplete solution to the original problem.
“We anticipate that more property will come onto the market before June as sellers try to avoid the upfront costs of HIPS. Any easing in house prices is likely to be short lived as we expect the market to level out quickly.”