calls for housing shake-up

Home move service is urging for a much needed shake-up in the housing market ahead of the governments range of emergency measures expected tomorrow.

Keith McNeilly, co-founder of, says the governments anticipated rescue package is urgently needed to successfully steer the country away from an impending recession.

He says: I would hope to see a complete overhaul of the archaic Stamp Duty system, with all properties under 250,000 becoming exempt. This would offer far greater long-term benefits for first time buyers and those with lower incomes than a temporary suspension, which is more likely to create a boom and bust situation.

He adds: I would like to see a first-time buyer saving scheme, which would see the introduction of tax free savings and be supported by government contributions.

“This would provide further incentives and assistance for consumers looking to buy their first home and could prove key in enticing first-time buyers back into the market.