Property market insiders are hoping that the new Conservative leader will address the matter of stamp duty with the government.

Property market insiders are hoping that the new Conservative leader will address the matter of stamp duty with the government.

The National Association of Estate Agents (NAEA) has released a statement outlining its belief that David Cameron should push for the boundary to be raised in order to increase affordability and to enhance the market.

Peter Bolton King, chief executive at the NAEA, commented: "Housing affordability in the UK is a well-reported problem which has been getting progressively worse for a long time now."

He added that the average price of property remained higher than the start of the stamp duty bands.

A recent review by the Council for Mortgage Lenders (CML) revealed that homeowners paid up to £6.5 million in stamp duty last year.