When Home Information Packs (HIPs) were introduced, on 1 August 2007, the rule was that a HIP had to be supplied when a property with four or more bedrooms was put on the market. Unsurprisingly, this led to a proliferation of ‘three bedroom’ properties being offered for sale which had an additional office, walk-in dressing room or similar.
The Government reacted quickly to this trend. On 17 August, it announced that HIPs and Energy Performance Certificates (EPCs) would be compulsory for all properties with three or more bedrooms put on the market after 9 September 2007.
Currently, the Government claims that a HIP costs in the region of £250-400 and takes about five days to create. It also asserts that putting into effect the measures recommended in the EPC could save the average consumer £300 a year on their fuel bills. ‘Green grants’ of £100 to £300 for energy saving improvements like loft insulation are available for many homeowners.
It remains to be seen whether the result of this latest move is a glut of ‘two bedroom, two office’ properties. We can, however, expect to see more three bedroom houses marketed as being ‘two bedroom plus home office’.
