Wednesday, Jul 26, 2006

Rightmove and their HIPs

BBC News: Rightmove halts house pack cash

Property website Rightmove has pulled the plug on 22m of investment in Home Information Packs (Hips).

The move was prompted by a government decision to make home condition reports - a key element of Hips - voluntary, rather than compulsory.

Last week, Rightmove shares slumped after it warned earnings from Hips were likely to be "significantly lower" as a result of the decision.

Posted by jason @ 08:12 PM (664 views)
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5 Comments

1. Autopilotengage said...

Guess investing in HIPs so heavily wasn't the "right move". This government really is starting to exhibit the same characteristics of John Major's Conservative party in his second term.

Wednesday, July 26, 2006 10:29PM Report Comment
 

2. P. Doff said...

My employer has just abandoned our training programme, and I have heard that Colleys Surveyors (Halifax owned) has done the same.
If the 'big boys' are doing that, it looks like Home Condition Reports are a dead duck.

I wonder how long it will be before the Government realise that the HIPs energy rating reports will cost about 150 as a stand alone service, whereas they could be prepared at a fraction of the cost if done in conjunction with a mortgage valuation. Some lenders already include one with their mortgage valuation report anyway.

I think the sensible step forward would be to go down that route, but is this Government sensible?

Wednesday, July 26, 2006 11:56PM Report Comment
 

3. inbreda said...

May I suggest we all contribute whatever we can afford in order to help Rightmove through these difficult times?

Thursday, July 27, 2006 09:02AM Report Comment
 

4. inbreda said...

Seriously though webmaster, it would be funny to see it reported in the press that a delivery of 13 pence, a button, two paper clips and some fluff was made to Rightmove offices following a sympathetic whip-round from HPC members.

Thursday, July 27, 2006 01:57PM Report Comment
 

5. Indiablue19 said...

Laughter does help. Count me in for a fuzzy peppermint.

Thursday, July 27, 2006 08:30PM Report Comment
 

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