NAEA calls for government help to restore confidence in housing market

Posted: 02 Jul 2008 13:17:53 GMT

The National Association of Estate Agents (NAEA) has urged the government to help the housing market.

The National Association of Estate Agents (NAEA) has urged the government to help the housing market.

Chris Brown, president of the NAEA, said that yesterday's (July 1st) house price index figures from Nationwide which showed another fall in house prices was as a result of lack of consumer confidence.

Mr Brown said: "We continue to urge the government to help the market. We have called for measures such as a stamp duty holiday for first time buyers and temporary tax relief on the mortgage interest of people's primary residence. We really want to see action from the government to ease pressure and give consumers hope for the future."

Although the Nationwide's index revealed another fall in property prices, Mr Brown said that the 0.9 per cent decrease in values was a "dramatic decline" from last month's figures and said that the housing market "appears to be stabilising", which he hoped would "begin to restore confidence in the market place".

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