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Will Alistair Darling Kill The Housing Market?

Earlier this week we heard strong rumours suggesting that the government was about to suspend stamp duty on house purchases in a moved aimed at giving the market a kick start. However as seems normal for the current Labour government things may not be as clear as first thought.

Firstly there is no guarantee that stamp duty will be changed, secondly there is a suggestion that it may only be suspended for a very short time and thirdly we are hearing news that if anything, stamp duty will only be delayed with house buyers liable to pay the fee when the economy picks up. But there is also another major issue, is Alistair Darling killing the housing market while he makes up his mind?

There is real concern in the Houses of Parliament and the property sector with many suggesting that any delay (any possible move may not be confirmed until October) will see house buyers hold off until a possible stamp duty deal is announced.

It has to be said that the authorities have acted in the best interests of the consumer but they are in grave danger of turning this into a farce and stalling the property market for the next few months. How will investors and estate agents feel if the government does not even announce a change to stamp duty later this year?

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