After another week of gloomy headlines in respect of prices and builders, The NFOPP (National Federation of Property Professionals) is being asked by some people what action they are taking to try and persuade the Government to help to generate confidence back in the property market.
Please be assured that the Association take the current situation very seriously and is taking every opportunity to discuss ways that help could be given to stimulate the market and the economy.
Ideas they have put forward include stamp duty relief for first time buyers, changes to the stamp duty thresholds and a temporary period allowing some form on interest rate relief similar to the old MIRAS system. In addition they have asked the Government to consider a Government sponsored mortgage scheme such as those that exist in the USA. The Government has to realise how important a healthy housing market is to the economy and the few steps they have taken so far are tiny.
As the Chancellor is going to get far less VAT and Stamp Duty from the market this year, what has he got to lose?