24 Jul

NAEA calls for government intervention in housing market

NAEA calls for government intervention in housing market

The National Association of Estate Agents (NAEA) has announced that it is calling on the government for intervention in the housing market crisis.

Peter Bolton King, chief executive of the NAEA, said that the government should take action to introduce tax breaks for first-time buyers.

He also suggested that the government could abolish stamp duty for first-time buyers and move the threshold up to ease pressure throughout the market.

"There are things that our government can do to ease the pressure and ensure our situation does not worsen," he said.

In addition, Mr Bolton King suggested that the Bank of England "pump more liquidity" into the mortgage market so that people can find the right funds.

"These are just some measures that will really help people and restore much needed belief in the market," he concluded.

The NAEA is the UK's leading professional body for estate agency personnel, representing the interests of 10,000 members.

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