The Royal Institute of Chartered Surveyors (RICS) has said that Home Information Packs (HIPs) will push first-time buyers out of the market.

Paul Broadhead, deputy director general of the Association of Home Information Pack Providers (AHIPP), said: “The latest HIPs allegations from RICS appear to have disregarded the many benefits that the packs will offer first-time buyers. With more information upfront and the costs incurred in gathering and providing information such as searches transferred to the seller, first time buyers will find their first step onto the housing ladder a more affordable and informed one.

“What RICS appears to have forgotten is that first-time buyers stand to benefit the most from the introduction of HIPs. With the vendor responsible for acquiring the HIP, costs will be eliminated and buyers will be able to make a more informed decision from the offset.”