SHARES IN companies preparing to be involved in Home Information Packs took a nasty knock after a government U-turn on what the packs will contain.
According to The Daily Telegraph, property website Rightmove and estate agent Countrywide saw £139m wiped off their combined value after Housing Minister Yvette Cooper said further testing of one part of the HIPs was required. The price falls came after Cooper admitted the controversial Home Condition Reports would not be included in the HIPs, which will now be delayed until 2007. Cooper said further testing of the reports was needed to ensure they provided the intended benefits. Rightmove, led by chief executive Ed Williams, admitted the overall value of each HIP would be lower than pr...
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