Estate agents say govt rescue plan 'not good enough' Published: 04/09/2008

The property market rescue measures the government announced this week do not go far enough, according to the National Association of Estate Agents.

Peter Bolton King, chief executive of the association, said the government must do more to better assist the property market.

Earlier this week it was announced that stamp duty would not have to be paid on properties worth less than £175,000 for a trial period of a year, after which the scheme will be reviewed.

The plans form part of a raft of measures to help boost confidence in the UK property market.

Mr King said that while the National Association of Estate Agents was "pleased" with the action following previous indecision it is little more than a "step in the right direction".

He said: "We are pleased a decision was made by the government today, as the indecision over the last month has had a major effect on consumer confidence.

"Today's announcement is a step in the right direction. However, I am still concerned as I do not believe the decisions made will help the entire market."

According to the estate agents, the gesture does little for first-time buyers in more expensive areas like London where such a cheap property would be hard to find.

Search now for an estate agent  © Copyright.