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| News » Residential Property Law » Rics call for government to take 'significant and decisive action' to revive housing market |
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01/09/2008
Rics call for government to take 'significant and decisive action' to revive housing market |
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The Royal Institute of Chartered surveyors (Rics) has called on the government to take "significant and decisive action" to revive a struggling housing market.
Rics has made the comments in the wake of research conducted by them that shows housing sales have hit a 30-year low, the BBC reported.
It claims there is a need to increase the availability of mortgages available and has called on the government to provide tax-free savings schemes to help first-time buyers save for a deposit.
Rics director of external affairs Gillian Charlesworth said: "We know there is no silver bullet that will slay this monster, but we need a joined-up, comprehensive approach to bring back confidence and to give the public clarity about what is available."
There are also calls for the government to introduce a holiday on stamp duty and a lower rate on the tax once that period has finished.
Under their proposals, there would be help for social landlords to develop and rent out affordable homes and reduced VAT on the cost of repairs and maintenance.
The news comes in the wake of an announcement by the Conservatives that they will review tax on empty properties "as a priority" if they win the next election. |
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