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Following the Pre Budget Report, Peter Bolton King, Chief Executive of the National Federation of Property Professionals, said:

“The Chancellor should have listened to the clamour of professional opinion and seized this opportunity to tackle stamp duty. A suspension would have given a real boost to first time buyers, who everyone recognises are key to market recovery.

“The National Federation of Property Professionals welcomes other measures announced – the lenders’ agreement not to initiate repossession proceedings until three months have passed, the extension of empty property relief and the £775m for regeneration and new housing.

“However more must be done - we now call on the Government to bring forward a number of important proposals from the Crosby report and to work closely with property professionals in any and all consultations between now and the budget.”

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