Despite the Chancellors’ increase to stamp duty thresholds in the March Budget, over three quarters (78%) of estate agents still believe that further increases would be a key way to improve the housing market. Over 40% of estate agents have reported an increase in first time buyers since the change in the base level, with a quarter of estate agents adding that they had seen some asking prices being amended to just below the new £120,000 threshold. However it is widely believed that further increases are needed across all the thresholds to bring the tax fully up-to-date.
Less than one in five agents believe that the present Government has helped the housing market over recent years, with 45% believing Labour leadership has actually hindered the market.
Key issues from the last couple of years include Home Information Packs (HIPs) -–set to be introduced in 2007 and the licensing of estate agents. Both were rated highly among the estate agents in this months’ poll. Almost half wish to see HIPs scrapped with a further 15% believing a voluntary scheme would be more effective. At the recent NAEA National Congress, both the Conservatives and Liberal Democrats pledged to scrap HIPs should they come to power.
Licensing of their profession is a priority for almost two thirds of estate agents. The NAEA has been campaigning for an effective regulatory scheme. All members must currently abide by a strict code of practice and rules of conduct or face expulsion from the Association. However there are limited powers to stop rogue agents from continuing to practise.
Peter Bolton King, Chief Executive of the NAEA, comments: “These results reflect the feelings of some 10,000 estate agents across the country. The political parties should not ignore the strength of feeling on some of these aspects, and the extent of change they could bring about to the thousands of people buying or selling a home each year.
“Whatever the outcome of the election, the NAEA will continue to lobby the Government on licensing, HIPs, stamp duty and the other issues which have the potential to seriously affect the housing market and the British public.”
