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Stamp duty to blame for supply issues - NAEA

20 June 2014 Last updated at 11:05 BST

The cost of stamp duty is discouraging people from putting their homes on the market, according to the National Association of Estate Agents.

President Simon Gerrard said homeowners living in properties worth over £250,000 were choosing to renovate instead of paying higher stamp duty costs.

He told BBC Radio 5 live's Wake Up to Money: "The cost of them actually moving home... prevents them putting it on the market."

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