Housing

We think that competition is very important. Part of the intention behind the reforms is to improve information and transparency and support competition. I assure my hon. Friend that we will closely monitor competition in the market, and think about whether further steps are necessary. As for the impact on the housing market, of course it is true that some estate agents have been using the advent of HIPs as a marketing strategy to try to drum up business and increase their share in a tight housing market in May. It would not be surprising if that had an impact on the timing of listings in both May and June, and it may take time for people to get used to the new system. However, listings fluctuate substantially from month to month. A million houses are sold every year, at an average cost of £200,000. Estate agents’ fees alone can amount to an average of between £2,000 and £4,000. We do not think it plausible that people will decide not to move house because of an energy performance certificate. That is an absurd assertion by Opposition Members who simply want to cause alarm and convey misinformation that scares people.