Following the publication of Halifax figures revealing a 2.6 per cent increase in house prices in May, Peter Bolton King, chief executive of the National Association of Estate Agents has said:

“This is one more indicator that the pent-up demand in the housing market is beginning to move. Our agents are reporting increased sales, more people wanting to look for property and a healthy resurgence in first time buyers.

“However it would be silly to speak as if the property market has recovered; and the Government must do everything in its power to help ensure that this is not a bubble. Specifically they must re-examine stamp duty, which is a tax on aspiration and a barrier for thousands of first time buyers.”