Housing market delay 'spells end for Labour'

The housebuilder finance specialist says the number of housing transactions is set to total just over 400,000 this year; 60% down on the worst year of the 90s housing market crash. It says transaction levels are “dangerously low”, adding a number of housebuilders are on their knees and will fold unless there is an improvement. If the Government takes action now to introduce a stamp duty holiday and implements a loan deposit scheme for first time buyers, then buyers will re-enter the market and builders recommence construction, it says. Mike Ratcliffe, chief executive of Wolsey Securit...