23 Sep

Slowdown reported after government's 'indecision'

Slowdown reported after government's 'indecision'

Activity in the housing market slowed during the month of August, figures from the National Association of Estate Agents (NAEA) have shown.

The body blamed the government's indecision over the introduction of a stamp duty holiday for the drop in the number of sales agreed, the percentage of first-time buyers and the number of houses available last month.

However, it added that since the stamp duty holiday on properties up to £175,000 was announced by the government at the start of September the housing market may now be heading on the right direction.

President of the NAEA Chris Brown said that "many consumers adopted a 'wait and see' attitude" last month but "now that a decision has been made, it is a positive push in the right direction".

He added that the government should continue to offer stamp duty holidays for first-time buyers.

In his speech at the Labour Party conference yesterday, chancellor Alistair Darling asserted that his priority is to "stabilise the banking system" in this current period of economic uncertainty.ADNFCR-1222-ID-18792088-ADNFCR

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