Stamp duty relief "is a sticking plaster" on housing problems

An extension to stamp duty relief would be nothing more than a "sticking plaster" on the underlying problems of the housing market, it has been claimed.

PricedOut.org.uk, the national campaign for affordable house prices, has said extending the tax holiday would be a short term measure and the government must do more to stimulate house prices.

The comment follows an Early Day Motion raised in Parliament earlier this week urging the government to extend the relief, which has seen the stamp duty threshold increase from £125,000 to £175,000, in order to further stimulate the recovery of the housing market.

Katy John, a spokesperson for PricedOut.org.uk, said: The emphasis should be on addressing the issue of affordable housing, and allowing first time buyers the chance to get onto the market is still a key issue.

"But stamp duty exemption is not the best way to tackle that. It's about building more homes and taxing second home ownership. It's about sensible lending, and getting the banks to do so."

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