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Rightmove rights off £8 million + on HIPs

The fall out from the British government's U-turn on HIPs – and the recent decision to make the controversial home condition reports voluntary rather than mandatory – continues, with the property website Rightmove admitting it had already spent £7 million on the development of its HIPs services and would incur further costs of £1.2 million ending the project. Since the U-turn, Rightmove has seen nearly £180 million erased from its market value. But, is another U-turn on the way as, earlier this week, another government minister – Ruth Kelly – told lobbyists that home condition reports 'may still be made compulsory'.