GOVERNMENT MUST STOP WAVERING OVER STAMP DUTY - ÖPIK

1.56.00pm UTC (GMT +0000) Wed 13th Aug 2008

Commenting on today's Government figures showing a drop in house prices, and the Royal Institution of Chartered Surveyors' announcement that the number of people moving house in July fell to a record low, Lembit Öpik, Liberal Democrat Housing Spokesperson and MP for Montgomeryshire, chastised the Government for toying with the idea of a stamp duty break later this year.

In Wales, annual house price growth in June fell to -1.0%, from May's growth of 0.8%. In June, the average house in Wales cost £162,168, higher only than the UK regions of the North East (£147,195) and North West (£159,449).

Commenting, he said:

"How can Ministers expect the market to pick up and consumer confidence boosted, when they have such little faith in their own housing policy?

"The Government's clumsy mishandling of stamp duty has hit the market at the worst possible time, and is probably responsible for house prices being lower than they otherwise would be."

Notes to editor:

For full details of the report, please visit: http://www.communities.gov.uk/publications/corporate/statistics/hpi062008

• Over the year to June, the HPI in Wales decreased by 1.0 per cent, down on the annual increase to May 2008 (0.8 per cent).

• Across the UK as a whole, the HPI increased by 0.6 per cent over the year to June 2008, down on the annual increase to May 2008 (3.0 per cent).

• Comparing June 2008 with May 2008 (not seasonally adjusted), annual house prices decreased in the UK and in Wales.

• The average house price* in Wales in June 2008 was £162,168, the tenth highest figure amongst the regions of the UK (higher than the North East and the North West).

• The UK average house price* stood at £215,029, whilst the UK figure excluding London and the South East was £181,952.

*Mix-adjusted house prices which, take account of the different mix of properties sold in the period in question and are thus unaffected by varying sales of particular property types in one period when compared to another.