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'More must be done' for housing market

'More must be done' for housing market

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The National Association of Estate Agents (NAEA) has called for more to be done to aid the housing market.

It follows a survey of its members that revealed 54 per cent do not have confidence in current government policies.

However, president Chris Brown praised home sellers for facing up to "economic reality" and cutting their asking prices.

"We hope that this provides the boost needed to encourage those families who so desperately want to buy houses to get into the market," he said.

But he warned that the government must match the homeowners' "bravery" and accept the truth of the situation.

He urged chancellor Alistair Darling to suspend all stamp duty in the upcoming pre-Budget report in order for the government to stand "shoulder to shoulder" with struggling households.

In September, 51 per cent of homebuyers were exempted from stamp duty after ministers raised the threshold to £175,000, according to the Council of Mortgage Lenders.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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