Government support for the housing market has been demanded by the National Association of Estate Agents (NAEA).
The industry group said that chancellor of the exchequer Alistair Darling should include measures designed to protect the current recovery in his upcoming Pre-Budget Report.
Suggested reforms from the NAEA include an extension of the current higher stamp duty threshold of £175,000 into 2010 and intervention in the mortgage markets to boost lending from banks.
If adopted, these changes could stimulate house price growth – benefitting equity release customers who unlock existing value from their homes in order to supplement their retirement income.
Peter Bolton King, head of the NAEA, pointed out that the credit crunch was still having an effect on bank lending.
"The lack of available mortgage finance is significantly hampering the supply of, and access to, mortgages," he said.
"Despite considerable public pressure, banks continue to restrict access to mortgage finance and charge rates far higher than the current level of interest rates. A more interventionist solution is now required to force banks to lend again."
The Pre-Budget Report will be delivered by Mr Darling on December 9th.
