Thursday, Jul 27, 2006
RICS critiques Australia HIPs model
Real Estate Enthusiast: Real Estate Enthusiast
The Royal Institution of Chartered Surveyors (RICS) has sternly criticised the UK Government’s decision to scrap the Home Condition Report (HCR) from Home Information Packs (HIPs). They claim that the Government failed to allow sufficient time to iron out the problem of training adequate numbers of Home Inspectors - an issue the RICS identified over a year ago.
"If the Government had worked together with industry, as suggested, a workable solution would have been possible" the influential body stated in a press release.
RICS research into the effect of HIPs on the UK housing market suggests the Government’s decision leans towards the low-regulatory model used in Australia where their version of the Home Information Packs are compulsory, but the HCR equivalent is not. The Australian model is a low cost approach to simplify the home buying process, and when introduced back in June 1988 had no effect on housing market activity.
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