With House prices falling and the number of transactions dropping very fast, pressure is building on the government to introduce policies to help the beleagured market. Strategies include:

• Freezing stamp duty. Home buyers would only pay the stamp duty after a delay of several years or when they sell the house.
• Income support for those paying mortgage interest payments and who are made unemployment.
• Tax free fund to help first time buyers raise a deposit to buy a house.
• Extending scheme for Bank of England to offer security on new mortgage loans.

Economists warn that the government need to make firm decisions soon. If there is uncertainty about future discounts on stamp duty, it will persuade people to delay buying a house now as they could save £5,000 or more in stamp duty.