The CML agrees with the committee that "much more work needs to be done on the Home Information Pack ... before the Bill even gets a Second Reading".
The Committee highlights a number of outstanding concerns that the CML shares, notably:
• The Home Information Pack (HIP) has not been adequately piloted
• The impact of HIPs on the market is unclear
• Will buyers be able to trust the home condition report, and will Home Inspectors have adequate professional indemnity insurance?
• How will the pack work in low demand areas?
Like the CML, the Committee also believes that estate agents should be licensed, and that the house-buying process could be speeded up by better use of IT.
Michael Coogan, CML Director General, commented: "This report gets right to the heart of the areas that the Government urgently needs to address if HIPs are going to work. The CML and others have been warning for some time how important it is to iron out these problems before rolling out the legislation. Hopefully, the Select Committee report will now encourage the Government to work through the problem areas before introducing the Housing Bill into Parliament."
The National Association of Estate Agents (NAEA) also supports the calls for further research into Home Information Packs (HIPs) and the licensing of estate agents as a way of increasing professional standards within high street estate agents.
Melfyn Williams, President of the NAEA, commented: “I am delighted with the findings of the select committee as it shows that they are finally listening to our recommendations. We welcome these conclusions and believe the NAEA and government should work together, as our 9,000 members all have an active role in the market and are best placed to assist the government. Our members are directly in touch with buyers and sellers and can provide a first hand resource.”
