Stamp duty debate causing 'anxiety' in housing market
Speculation that the government could abolish stamp duty has caused "anxiety" in the housing market, according to one expert.
Simon Preston, chairman of iammoving.com, believes that the debate surrounding the government's stance on stamp duty could cause people to turn their backs on the housing market in London.
Concerns have also mounted following a survey by the National Association of Estate Agents which found that 92 per cent of Estate Agents believed that the debate had caused buyer concerns over purchasing a home.
Mr Preston said: "The government has caused a lot of anxiety of late about whether they might give relief on stamp duty and obviously that's not going to encourage someone to complete on a house sale."
The knock-on effect of this confusion could increase the number of would-be buyers who turn to rental accommodation, until a firm decision had been made by the government.
Nationwide recently reported that house prices has plummeted 8.1 per cent in value during the last year.
Published 27th August, 2008
© 2008 Estates IT Limited
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Speculation that the government could abolish stamp duty has caused "anxiety" in the housing market, according to one expert.