The NAEA and ARLA, already associated through their umbrella body, the National Federation of Property Professionals, have issued a joint appeal to Chancellor George Osborne to help create more mobility in the housing market.
Specifically it says the Chancellor should use his annual Budget, to be delivered next week, to address the Stamp Duty slab structure' which the NAEA says restricts home ownership, and to encourage more institutional support for the private rented sector through greater regulation in a bid to drive up standards.
Arguments over stamp duty are well known; the NAEA says a slab structure with steeply rising payments at each threshold distorts the market and acts as a barrier to first-time buyers.
ARLA's appeal is more unusual. It says that with 3.8 million private tenants the government should introduce full mandatory regulation of agents. This would bring two benefits - a much needed stamp of professionalism and quality and therefore the creation of a more attractive context for potential investors into Built To Rent.
Comments
The self interests of ARLA and the NAEA in continually calling for mandatory regulation, hopefully will continue to fall on deaf ears with the government. No form of membership to any so called, self appointed 'Professional Association' will stop the rogue practices of some agents. Simply protecting the deposit monies will not stop all the
other money making tricks some agents practice (big, small, corporate,non corporate, ARLA member non ARLA members). There are rotten businesses in every field, flush them out, shout loud and clear naming those agents, bad publicity usually sorts this out. We already have laws for fraud and dishonesty, we should try using them.