Chancellor "missed an opportunity" to support housing market
Measures announced by chancellor Alistair Darling in last week's Budget are unlikely to be enough to support the struggling housing market, it has been suggested.
According to Peter Bolton King, chief executive of the National Association of Estate Agents, the government has not gone far enough.
Mr Darling announced that the increase in the threshold for stamp duty would be extended to the end of the year, having originally been planned to last only until September.
But Mr Bolton King argued that a further rise would have been more beneficial, stating: "He's missed an opportunity to really stimulate the market."
Those planning to live in London but who are struggling to get onto the property ladder at present may prefer to consider flats to rent in Dulwich and other areas.
Following the Budget announcement, the Association of Mortgage Intermediaries stated that complete abolition of stamp duty would have been a "bolder" step.
Written by Tom Price
Published 27th April, 2009
© 2009 Estates IT Limited
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Measures announced by chancellor Alistair Darling in last week's Budget are unlikely to be enough to support the struggling housing market, it has been suggested.