Written question asked by Charles Walker (Conservative) on Thursday, 15 December 2005, in the House of Commons. It was due for an answer on Monday, 19 December 2005. It was answered by Yvette Cooper (Labour) on Tuesday, 20 December 2005 on behalf of the Office of the Deputy Prime Minister.

Homebuyers Information Pack

Question: To ask the Deputy Prime Minister what research he has commissioned into the likely impact of the home information pack on house prices; and if he will make a statement.

Answer: No specific research has been commissioned on this, as there is no reason to believe that the introduction of home information packs will have a significant effect on house prices. The only new cost being imposed on the system overall is the cost of a home condition report in a proportion of transactions. Together with the rest of the information in the pack, this will help to ensure that house prices are set more realistically and buyers are not faced with unexpected repair bills and other commitments they cannot afford. The reforms are designed to improve the home buying process by making it more transparent and reducing the current high rate of transaction failure. A more efficient system will benefit the housing market and the UK economy.

Secondary information