Rightmove abandons Hips - papers 27th July

According to the paper, the move comes after the government said last week the home condition report element may not be compulsory. The company said it had spent £7m developing services for the provision of Hips and would incur further costs of about £1.2m from ending the work. Rightmove, which hoped to become Britain’s largest provider of the controversial reports on the condition of homes offered for sale, had initially budgeted £22m for the development of its services. But nearly £180m was erased from Rightmove’s market value last week after Yvette Cooper, the housing minister, annou...