NAEA: Buyer interest will be lost

Posted: 24 Apr 2009 12:56:02 GMT

Chancellor Alistair Darling's budget has been criticised by the National Association of Estate Agents (NAEA), after the group claimed that the moves will not assist buyers.

The NAEA suggested that the number of potential buyers registering their interest in purchasing property rose 12 per cent between February and March alone.

Although the chancellor's latest budget, released on Wednesday (April 22nd), supported mortgage lending, the NAEA joined calls to rally against the stamp duty tax.

NAEA president, Chris Brown, said: "The chancellor's announcement on mortgage guarantees will hopefully assist these people to translate their interest into a purchase.

"There is no justification for responsible people being denied access to appropriate finance, and with luck this should help reverse that situation, which has stagnated the market over the past 12 months."

The chancellor appeared to use his budget to combat low mortgage availability; a move which should lead to a greater number of property purchases in the near future.



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