Investment Property News - Bueno Investments Limited

The Government has defended its handling of the controversial Home
Information Packs after MPs accused it of a "failure of nerve".

The Communities and Local Government Select Committee said the delay in
implementing Hips was due to media pressure.

Hips were due to be introduced in June but were delayed until August, and
then only for homes with four or more bedrooms.

Three-bed properties were added in September, with Hips for all homes
becoming mandatory only last month.

The MPs' report said: "We can only conclude that decisions to delay the
introduction of Home Information Packs and then to phase them in for homes
of different sizes across a period of months were taken on political rather
than economic grounds, owing more to a failure of nerve in the face of vocal
opposition from the press and others than to the general conditions
prevailing in the housing market itself."

But housing minister Iain Wright said: "Given the changes taking place in
the housing market over the autumn, we believed it was sensible to get an
independent assessment from Europe Economics of the impact of the first
phase of Hips in the housing market before completing the implementation."

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