18 Mar

Government 'to help property in budget'

Government 'to help property in budget'

The government is likely to introduce a range of measures in next month's Budget to help the property market, it has been predicted.

Editor of Property Investor News Richard Bowser said that the process of trying to improve matters through interest rate cuts is "pretty much done" and that other measures will now follow.

He stated: "It is likely that from a fiscal point of view, for a year or two, the government will announce in the Budget a whole series of incentives."

This will be part of a concerted effort to improve the housing market, Mr Bowser added.

Such moves may help improve the prospects for first-time buyers looking to get on the housing ladder.

One possible fiscal incentive could be a measure to ease the stamp duty burden on purchasers.

Earlier this month, the Association of Mortgage Intermediaries called for the levy to be scrapped on all residential property.

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