Majority of agents expect help to buy to drive sales
Published by Max Salsbury for 24dash.com in Housing
'North-South divide' over stamp duty payments
The majority of estate agents expect the government's help to buy scheme to increase property sales by 30%, new research has revealed.
The survey of 186 agents by Move with Us found that 85% believe the scheme will stimulate the housing market, while 86% think it is a good policy.
And 77% think help to buy will help to increase sales during the typically quiet period in the run up to Christmas.
However, the survey also found that the government could have provided more useful explanatory information about the scheme.
Just under half of those surveyed feel that the government hasn’t supplied them with adequate information about help to buy.
In particular, estate agents are finding that people want more information about what will happen in five years’ time if help to buy owners decide to move and a step-by-step guide on how the scheme works.
Robin King, director at Move with Us, said: “House prices are increasing naturally as we would expect in a recovering economy and it is likely the help to buy scheme will have a positive impact on property prices, generating more sales and creating more fluidity in the market.
"As a result, we expect to see an increase in house price values of between 5% and 8% in some regions as we enter 2014, however, this will be very much dependent on the banks’ ability to lend on mortgages and to fulfil their commitments to government schemes. If more lenders get involved buyers will have more options and will be able to use these incentives to purchase their first home or upscale to larger properties.”