NAEA announces five point plan to rescue the housing martket

In a submission delivered to Downing Street, the NAEA calls on Mr Darling to:

Abolish or reform Stamp Duty Land Tax

Boost liquidity to free up lending

Improve access to finance for first time buyers

Suspend Home Information Packs

Help property owners and tenants to stay in their homes

Peter Bolton King, chief executive of the National Association of Estate Agents, said: “This Budget provides the Chancellor a perfect opportunity to consolidate and build on recent figures that show confidence returning to the housing market.

“The housing market serves as a barometer for the rest of the economy – and the measures proposed by the National Association of Estate Agents will help to improve the current gloomy forecast.

“People across the UK want to buy property and own their homes and the Government can and should do more to help them.”