Industry body calls on government to make decision on 'stamp duty holiday'

Posted: 13 Aug 2008 12:31:24 GMT

The latest report from the Royal Institute of Chartered Surveyors (Rics) has hinted at a stabilisation of the housing market over the coming months.

According to the National Association of Estate Agents (NAEA), however, the government needs to make a firm decision about whether it will grant first-time buyers a "stamp duty holiday".

Peter Bolton King, chief executive of the NAEA, has said that whilst the market is "showing signs of levelling out", the government's indecision on stamp duty is having a negative effect on consumer confidence.

Mr Bolton King explained: "Whilst aspects of this report are encouraging, I remain concerned that the optimism for the next few months may be scarred by the current uncertainty regarding stamp duty.

"The confused messages being sent out by the government will undoubtedly have an impact on consumer confidence as the public is understandably confused at present about whether to buy or sell."

Consumers are adopting a "wait and see" attitude which is halting the market, the NAEA reported.
Property Ladder presenter Kirstie Allsopp has voiced her concerns over the government's indecision.

She said: "I am in despair that the government could have made such a mess when the housing market is particularly fragile. We really must have clarity."

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