November 2008

'Still more help needed for FTBs'

FIRST time buyers are re-emerging into the market, according to the latest National Association of Estate Agents members’ survey — the first sign that the Government’s decision to raise the lowest Stamp Duty level by £50,000 for 12 months is having some effect.

But the Association has called for the new housing minister Margaret Beckett and the rest of the Government to keep taking action to restore confidence in the market.

For the first time since January, the survey showed an increase in the number of sales per agent, from an average of five in August to six in September — and the percentage of first-time buyers was 9.5 per cent compared to 8.3 per cent the previous month.

NAEA president Chris Brown said: “First time buyers seem to be returning and for those who have the correct finances in place, now is the perfect time to buy a home.  However, the NAEA continue to urge the Government to review the market holistically and offer this group a Stamp Duty holiday.”