The organisation, which is the UK's leading professional body for estate agency personnel representing the interests of around 10,000 members who practice across all aspects of property services both in the UK and overseas, wants stamp duty suspended.
It argues that only bold measures will help to kick start the sagging property market and one of the key areas is getting young first time buyers onto the property ladder. It believes that Chancellor Alistair Darlings' Pre budget Report, expected next week, must address the property downturn.
'The Chancellor must realise that the housing market is not a piggy bank for his personal use. The gravy train is over and stamp duty cannot be used irresponsibly to boost his coffers,' said Chris Wood, President-Elect of the NAEA.
'The bill for first time buyers has more than doubled in the last five years, making it impossible for many young people to start their own home. As it stands, stamp duty is a tax on aspiration – disappointing during an economic boom but unforgiveable in a faltering economy,' he added.
He pointed out that the NAEA and other organisations have made repeated calls for a full revision of stamp duty. 'The stakes have never been higher. The Chancellor must take this opportunity to give the housing market the boost it needs. We now call on the Government to suspend stamp duty and hold a full review into making the system work better for the consumer,' he concluded.
The call comes as the latest figures from the Royal Institution of Chartered Surveyors published today show that the average number of sales per estate agency is at an all time low since figures began in 1978.
The average number of transactions per agency over the last three months is now at 10.9, a drop from 11.5 in September. The worst hit area is London where Chartered Surveyor estate agents are reporting only six sales per agency over the past three months, while agents in East Anglia and Wales are reporting only nine sales in the same period.
