NAEA Propertymark submits it’s views to the Treasury ahead of the Autumn Budget 2017

September 27, 2017

NAEA Propertymark has submitted its views to the Treasury ahead of the Autumn Budget 2017, calling on the Government to exempt first-time buyers from paying stamp duty and give incentives to downsizers in order to encourage them to move.

NAEA Propertymark’s monthly Housing Report shows that the proportion of sales made to first-time buyers fell from 30 per cent in June 2017, to 23 per cent in July 2017.

They mention in the news item 22nd September that: September 2016 also saw first-time buyer levels at 23 per cent, with November 2015 as low as 21 per cent of sales. To encourage more people into home ownership, NAEA Propertymark believe that the Government should exempt first-time buyers from paying stamp duty.

They ask that to further boost housing delivery the Government should remove the 3 per cent surcharge on additional homes and buy-to-let properties. NAEA Propertymark would also like the Government to extend the Help to Buy equity loan scheme beyond 2021 for first-time buyers only, as well as introduce a scheme to support the purchasing of pre-owned property.

NAEA Propertymark has also reiterated its call for the regulation of estate agents, improve guidance around the Consumer Protection Regulations, and the need for stringent codes of practices to ensure that event fees are brought to the attention of prospective buyers.

Read the NAEA Propertymark response to the Treasury ahead of the Autumn Budget 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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