From The BBC:
The government needs to take “significant and decisive action” to help kick start the housing market, the main surveyors’ organisation has said.
The call from the Royal Institution of Chartered Surveyors (RICS) came as it said its research showed that housing sales were now at a 30-year low.
Claiming that government efforts had so far been limited, RICS has come up with its own set of suggested reforms.
The government is working on a package of measures to help the housing market.
No-one from the Department of Communities and Local Government was immediately available to comment on RICS’ recommendations.
The RICS report comes a week after the Nationwide said house prices fell 10.5% in August compared with the same month last year.
RICS is calling on the government to first help increase the number of available mortgages.
To do this, RICS wants the government to allow the Bank of England to guarantee the issue of new mortgage-backed securities – home loans which…