Estate agent haart is calling for a Stamp Duty holiday for first-time buyers, incentives for older families to move up the ladder and for the elderly to downsize as part of efforts to boost the market.

The list of demands comes as data based on the agent’s own branches showed the market has stagnated in the aftermath of the General Election announcement.

House prices across England and Wales in March fell by 0.2% during April, and are down 3.2% on the year, taking the average house price to £223,224.

Sales fell by 1.6% between March and April nationwide, but were up 5.7% in London.

New buyer demand for homes fell by 10.1% on the month and down annually by 34.6% across England and Wales, although it out-strips supply.

Additionally, the agent found that the number of properties coming on to the market has risen by 0.1% on the month, but is down by 23.8% on the year.

In London, haart branches reported prices down 1.7% on the month and 0.5% on the year, to stand at an average of £563,171.

In the lettings market, tenant registrations fell 30.7% annually to 54 per branch, and slipped 32.9% to 58 in London over the same period.

Despite a drop in demand, rents have increased by 1.1% on the month to £1,250 a month, but they fell 1% in London to £1,779.

Paul Smith, chief executive of haart, said: “Elections usually see a slowdown in the market, and this year is certainly no different. However, thankfully this time round the run-up period is short, and soon the property market can jump off this latest political roller-coaster and resume activity again.

“A General Election should be a good thing in the long run. A clearer vision on Brexit should hopefully allow for a new Government to stop being distracted, and put more pressing issues – such as housing and home ownership – first.

“As the chronic housing shortage continues to spiral out of control, and the size of deposits and Stamp Duty continues to soar, purchasing a property remains nothing but a pipe dream for millions. And that is hardly a vote winner.

“These policies would increase fluidity in the market, and free up more properties – ensuring that more people have an opportunity to put roots down in a community and to have somewhere they can truly call home.

“Clearly there will be an impact on tax take – but new home owners spend lavishly on white goods, carpets and other services which all carry 20% VAT.”

• The west midlands has overtaken the east of England as the fastest growing region for property, according to the Your Move House Price Index for April.
  Prices in the West Midlands were up 0.5% monthly and 6.2% annually to £214,309. The latest report shows prices in England and Wales. increased just 0.1% for the second month in a row to £301,606, up 3.5% annually. The annual rate of growth was actually the highest for three months but price inflation is now at half the rate of growth seen in June 2016. Estimated transactions for April were at 63,500, down 7% on March, but in line with levels seen in 2015.