Hips 'are not trusted'
Real estate specialists have claimed that Home Information Packs (Hips) and Energy Performance Certificates (EPCs) are not trusted or considered important by many landlords and property solicitors.
Savills said that a consensus of landlords preferred to carry out energy ratings themselves, while adding that there was little evidence to suggest that house buyers were at all concerned by Hips.
All properties for sale in England and Wales are now obliged to provide Hips, with rental properties set to require the compulsory EPC element of the pack by October 2008 – a step already taken by many landlords.
Lucian Cook, director of research at Savills, said: "At the top end of the market you can imagine that that would be the case because solicitors will want to do their own surveys to make sure that there aren't any issues.
"The general conclusion is that they are not really being used at all. If they are not of use to buyers, they add an administrative burden in bringing properties to market. You do question their value."
Despite Savills' scepticism, a recent report from environmental consultant Hyder Consulting showed that as many as 44 per cent of Brits would use Hips eco information when negotiating house price discounts.
Published 18th December, 2007
© 2007 Estates IT Limited
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Real estate specialists have claimed that Home Information Packs (Hips) and Energy Performance Certificates (EPCs) are not trusted or considered important by many landlords and property solicitors.