House price stabilisation needed, says PricedOut.org.uk
www.moneynews.co.uk > Housing market > House price stabilisation needed, says PricedOut.org.uk
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House price stabilisation needed, says PricedOut.org.uk
Fri 4th Dec 2009
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Katy John, spokesperson for PricedOut.org.uk, said the body believes that many people do not yet have access to affordable housing at a reasonable cost.
She added: "We think there needs to be a period of stabilisation of house prices so that they get back to more affordable, sustainable levels."
Ms John suggested that the stamp duty holiday, which is currently due to expire on December 31st and means that properties valued at being worth £175,000 or less are exempt from the tax, is not a long-term solution to issues facing those trying to enter the housing market.
"We think that stamp duty relief is ... a sticking plaster on the underlying problems," she stated.
Concluding, the industry analyst called for the government to build more new homes in order to keep to its target of creating three million new properties by 2020.
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