Govt action needed to help FTBs, experts say

20-Nov-2008

The majority of property industry experts who featured in a National Association of Estate Agents (NAEA) survey have said they are not confident in the government's current attempts to revive the UK housing market.

Some 54 per cent of respondents to the study were found to agree that more government action is needed.

The NAEA hopes chancellor Alistair Darling will announce a suspension of stamp duty in his pre-budget report - a move which could benefit first time buyers (FTBs) looking for their first mortgage on a new home.

Chris Brown, president of the organisation, has said a "clear commitment from the major lenders to pass any cut on to consumers" is needed, in addition to further base rate cuts from the Bank of England.

Rightmove's latest house price index reported a 7.1 per cent year-on-year decline in the average asking price for property, which could mean that FTBs who can rely on parental help to fund a substantial deposit might be in a good position to bargain hard with sellers over the Christmas period.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

First time buyers 'relying on parental help'Chancellor 'must help FTBs'FTBs 'can capitalise on a buyer's market'

2012: Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar