Govt can help property market, expert states

17-Sep-2008

There are things the government can do to encourage people on to the property market, according to one industry expert.

Keeping the economy stable, avoiding a recession and abolishing stamp duty for first-time buyers (FTBs) are just some of the options available, says Helen Adams, managing director of FirstRungNow.

Furthermore, Ms Adams states that a lot of one and two-bedroom properties are being sold to investor landlords, who are "making money out of" FTBs who cannot afford to buy.

"We would rather see those properties - and the income on them when they are rented out - super-taxed to discourage investor landlords from buying them," she comments.

Penalising landlords would leave such properties available for FTBs, Ms Adams explains.

According to Nationwide the average price of a house in the UK in August 2008 stood at £164,654 – down by 1.9 per cent from the previous month and 10.5 per cent from the same point last year.

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.

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