So, in this economic downturn, should they make it harder to sell your home…

This week the new rules have come into force and home owners must have a home information pack (Hip) in place before putting their property on the market. Previously a seller could order a Hip prior to marketing.

The “improved” Hip sets out extra details such as the council tax band, flood risk, structural alterations and parking arrangements and is welcomed by the government claiming this is all important information which should be taken into account before buyers are asked to make an offer. Many critics just claim they were an "expensive waste of time" before the new rules and are now even worse!

If a seller (or estate agent) markets a property without the mandatory Hip they can face fines of at least £200.

Many Solicitors and estate agents are, and will remain, highly critical of the Hips scheme as the information is outdated so quickly and buyers often have to commission new searches which means, in effect, that the cost is doubled. Many also believe the new rules will cause even more problems.

A spokesman for the National Association of Estate Agents (NAEA), claims the Hips scheme has been a costly failure and an unnecessary burden to sellers. "An expensive waste of time which has proved counterproductive at the best of times but, in a housing slump, Hips are downright damaging," adding that according to government figures 77% of home buyers paid no attention to Hips.