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Industry grasp of Hips not matched by public

Home Information Packs (Hips) will become law next summer whether the public or industry is in agreement or not. Even though this new legislation will affect the whole buying and selling process, a substantial number of people remain unaware of what Hips actually are.

Results of a new survey conducted by The Property Investor and Homebuyer Show North have highlighted that over 27% of people are unaware of Hips and a staggering 61% believe that it is the buyer who has to stump up the cost, as opposed to the seller.

Amusingly, but not surprisingly given the poor public awareness, the results also show that more than 22% of the general public wrongly believe Hip stands for Hotspot Information Provider, and 5.6% for Housing Initiative Product.

When asked who has to purchase the Hip, a whopping 61% said it was the buyer and 7% bizarrely selected holiday makers. Just 32% knew that it was actually down to the seller to purchase the Hip before they can put their property on the market.

The survey was conducted using people that had expressed an interest in property shows, so the conclusion must be that the average person has even less knowledge of the new regulations.

However, they needn't feel isolated. Conservative Party members also showed a lack of working knowledge of Hips last week. In a House of Commons debate over Hips the Conservatives perpetrated over 10 popular myths and untruths, said the Association of Home Information Pack Providers. (See our story Hips myths 'perpetrated' in the House of Commons )

88% of estate agents are now aware of Hips

Despite the lack of knowledge among the general public, industry awareness is improving. Easier2Move, an online conveyancer and exhibitor at The Property Investor and Homebuyer Show North has carried out research that shows 88% of estate agents are aware of Hips, up from 83% in the previous month.

Karen Babington, Marketing Director at Easier2Move commented: "It is important that estate agents are educated about Hips as they will have a major role to play in the sale of them when they go live in 2007. It is encouraging to see this figure has improved since our index started."

Nick Clark, managing director of The Property Investor and Homebuyer Show North said: "The government has announced its timeline for the introduction of Hips, and with a year to go until they go live, full preparation within the industry is vital."

"In response to this, a dedicated Hips village has been organised at this year's Property Investor and Homebuyer Show North. Companies exhibiting within the area will be on hand to provide information, advice and Hip services to estate agents. With 27% of the general public unaware of Hips, education of both industry and the public is essential."

Companies exhibiting at The Property Investor and Homebuyer Show North include Easier2Move, OpenBook and Property Search Group. There will also be expert-led seminars discussing the implication of Hips over the course of the weekend, including: 'Hips, a working solution for local estate agents' from OpenBook, and 'Hips, an opportunity not a threat!' from Property Search Group. The show runs from Friday 2 to Sunday 4 June at the GMEX Centre in Manchester.