Property news: NAEA response

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Giving his response to the Chancellor’s Budget, Mark Hayward, President of the National Association of Estate Agents (NAEA) said: “Housing received a surprising level of attention in the Budget but there is still work to be done. Plans to inject £130 billion for low mortgage deposits and expand NewBuy and Right-to-Buy schemes are welcome, but significant challenges remain to ensure such housing initiatives are fully understood and adopted.

“Since the start of the economic downturn, the NAEA has consistently called on the Government and the banks to look at more comprehensive ways to improve access to funding for prospective homeowners, especially for the important first time buyer market.

“In the absence of a Stamp Duty Holiday for first time buyers, it is imperative that politicians, the house building industry and the major lenders continue to look at more ways to offer support to this fragile part of the sector.”