AHIPP calls for stamp duty relief

With transaction volumes set to fall to 650,000 in 2008, AHIPP director general Mike Ockenden says action is urgently required. AHIPP claims suspending stamp duty on property purchases with a value of less than £200,000 would help restart the housing market, which has slumped in recent months. “With mortgage lenders tightening their credit criteria, every penny counts for those wishing to move home or buy their first property,” says Ockenden “By suspending stamp duty on lower cost homes many would find that they could now afford to move or in the case of first time buyers meet lenders...