NAEA calls for housing market measures

Tuesday, December 1st 2009

More needs to be done by the government to avoid leading the property market and wider economy into a double-dip recession.

This is according to the National Association of Estate Agents (NAEA), which is calling for the current stamp duty holiday to be extended and wants the government to intervene in mortgage markets and get banks to lend again.

It also says that first-time buyers need better access to finance, while home information packs (Hips) should be suspended.

"The cost of the packs punishes sellers, while more than three-quarters of buyers - 77 per cent - do not consider them before they decide whether to buy a property," said Peter Bolton King, chief executive of the NAEA.

Hips are compulsory for most of the properties going on the market in England and Wales and sellers are responsible for paying for them, although the cost can vary.

They have to be made available to buyers from the first day of the property going on sale.