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92% of estate agents saw effect of Stamp Duty indecision on consumers

The vast majority of estate agents have said government floundering over Stamp Duty in August increased consumer concerns about the housing market.

The National Association of Estate Agents has polled its members and 92% have witnessed increased concern as a result of indecision about the tax while 98% believe that consumer confidence was further damaged as speculation rose.

Members reported a slight decrease in the number of houses
available, sales agreed and percentage of first-time buyers.

But two areas experienced an improvement last month – the average difference between the asking and sales price and the percentage of agreed sales fallen through.

Chris Brown, president of the NAEA, says: “With poll results like this it was clear that the property market in August would experience a slow down as clearly consumers were stalling on property related decisions due to the cloud of uncertainty and apprehension hanging over their heads.

“However, the government needs to do more to address the problems in the market if anything is to change. The NAEA continues to urge the Government to offer first timer buyers a stamp duty holiday.”

The number of sales dropped slightly in August to five sales fro six per agent in July.

There was also a decrease in the percentage of first-time buyers with an average of 8.3% sales compared to 10.7% in July.


Director quits HML

Mike Perry, director of sales and marketing at Homeloan Management, has decided to leave the company. Perry joined HML earlier this year from Amber Homeloans, where he had worked since 2001.

New directors for Checkmate

Checkmate Mortgages has appointed Jeremy Sillem and Gerald Gregory as non-executive directors. Stephen Knight, executive chairman of Checkmate, says: “The appointment of experienced executives is consistent with our intention to become a new force in the market.”

IMLA hits out at extension of SLS

Peter Williams, executive director of IMLA, says the Bank of England’s decision to extend the term of its Special Liquidity Scheme is madness as it will exclude a lot of broker lenders.

IMLA attacks SLS extension

The Intermediary Mortgage Lenders Association has slammed the extension of the Special Liquidity Scheme as madness since it excludes a number of broker-facing lenders from accessing the plan.


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