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Three quarters of homeowners to avoid Hips

As the furore over the introduction of Home Information Packs (Hips) continues, property website Rightmove has reassured sellers that only 25 per cent of home owners will be obliged to have a pack.The news comes as the government has decided that only households with four or more bedrooms will have to have a compulsory Hip as standard.According to Rightmove, only 221,954 larger properties on the market will need a pack in England and Wales on August 1st, although people selling smaller properties may be required to produce a pack at a later date."This is a larger proportion than had been speculated," said Miles Shipside, commercial director of Rightmove. "It remains to be seen whether this percentage will be representative of what comes onto the market after August 1st, especially if there is a rush of instructions prior to that date to avoid the costs of a Hip."Rightmove saw 20 to 30 per cent more properties come on the market just before the introduction of Hips was delayed."The phasing in August will have a less dramatic effect on the numbers of new listings, but could lead to a surplus of larger properties if sellers of four bedroomed properties act in a similar fashion," concluded Mr Shipside.

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