Measures unveiled in this week's Budget to boost the housing market will have little impact on current trends, the National Association of Estate Agents (NAEA) says.
In its latest market report, the trade body says not enough was done by Alistair Darling to improve the situation of first time buyers (FTBs), arguing that a recent boom in FTBs coming to the market will not necessarily be improved by the measures. Darling announced an extension of the stamp duty threshold of £175,000 until the end of the year, but the NAEA has called for the move to be scrapped or suspended and reviewed. "This is a token gesture that will be presented as a benefit to first time buyers but is in reality irrelevant to two thirds of them," NAEA president Chris Brown says....
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
