Two of the UK’s biggest property groups have called for a stamp duty holiday to help Brits mitigate the coronavirus crisis.
Hew Edgar, RICS head of government relations, said: “RICS is not an organisation that would call for a stamp duty holiday on a whim.
“As we start to emerge from this crisis, however, it is likely that the finances of potential homebuyers will be under strain, and the burden of stamp duty could put buyers off.
“For those who can afford to move they may lack confidence in the market, adding to the slow down.
“A stamp duty holiday could be one of the ways to reactivate the housing market quickly as a short term measure.”
Richard Beresford, chief executive of the NFB, said: “A temporary stamp duty holiday would encourage new build sales and release some much needed cashflow back to our struggling housebuilders.
“It would also ensure vital businesses, such as surveyors and conveyancers, are able to continue operating in these difficult times. We support it.”
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