Mr.
Wright: The hon. Member for Worthing, West started his
funny and informative contribution by asking who had ownership of HIPs.
Yesterday, I took my four-year-old son to a birthday party where he won
a game of musical chairs and—I am sure that it was not because
the local Member of Parliament was there—also won a game of pass
the parcel. Despite the turnover of Housing Ministers, I am the one
still holding the parcel, and I am proud to say that HIPs are a good
thing and that they are useful for people who are both buying and
selling
property.
Peter
Bottomley: Who thought them
up?
Mr.
Wright: I do not have that information to
hand. There
are a number of important points to make. If I miss any of the detailed
points that have been raised, I promise that I will read the
Hansard report of our proceedings in the next few days and
respond to every Committee member.
The hon.
Gentleman asked whether there was an average property and, if there
was, how long it stayed on the housing market. Given the huge diversity
of housing and property, that is difficult to say. Anecdotally, one and
two-bedroom flats are falling in value at the moment, particularly in
cities. Three-bedroom houses
that provide good family accommodation will always have their place and
those have held their value extraordinarily well. It is incredibly
difficult to say how long, on average, a property
sits on an estate agent’s
books. The
hon. Gentleman asked what would happen if somebody knocked on my door
and asked to purchase my property. I think that the hon. Member for
Brent, East mentioned the key point, which is that we must answer to
the best of our knowledge. That is important for property that might
have been passed on to family members. The hon. Member for Worthing,
West talked about someone knocking on my door but, importantly, a HIP
is required only if the property is marketed, so we would not enter
that ball game. I will look at the detailed points that have been
raised. We have certainly heard about property searches and local
authorities, about which we had we had an informative debate when we
considered regulations relating to that and the use of insurance
data. The
essential point relates to information and its relevance. To weed out
the properties in which a person might be interested, do we want
up-front information on energy efficiency, types of lease and so on, or
do we want that person to commit emotionally and financially to a
property and then be disappointed? The Government want to provide
relevant information up front so that people do not have to invest that
time, so that we weed out time wasting, and so that we ensure greater
efficiency in this cumbersome service.
Grant
Shapps: Before the Minister finishes, will he confirm
whether the new PIQ will fall under the Property Misdescriptions Act
1991? If it does, there is concern that that could have a significant
impact, for example on an estate agent assisting a seller to fill out
the required information.
Mr.
Wright: Yes, in certain circumstances, but I can
clarify that in a letter to the hon. Gentleman and the Committee. I
hope that I have made the point that relevant information up front can
reduce transaction costs, reduce disappointment and improve the
efficiency of the housing market.
Question
put. The
Committee divided: Ayes 9, Noes
6.
Division
No.
1] Question
accordingly agreed to.
Resolved,
That the
Committee has considered the Home Information Pack (Amendment) (No.3)
Regulations 2008 (S.I. 2008, No.
3107). 5.14
pm Committee
rose.
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