In the world of property, this is one of the most hotly debated topics right now: just what is likely to happen with property prices next year. 2007 has been an interesting year with several significant developments that have affected the market in various ways. The biggest was the introduction of Home Information Packs, more commonly known as Hips. Research ten years ago revealed that more than a quarter of all house sales fell apart before the exchange of contracts, leaving an obvious gap for something to better regulate the market. That was the foundation of Hips, and they were formally announced in the Queen's speech in November 2003.You have to get a pack put together when selling your house in England or Wales. It must contain a number of documents that have to be no more than three months old.
