Over recent weeks I have read with interest the views of Herefordshire estate agents, mostly from small to medium sized independent firms.

They have accurately reported the state of the property market but what has struck me is the sound knowledge of the profession and the wish to do the best by their clients and customers.

In the rural area, where word of mouth means far more than flash gimmicks, I hope these articles are doing a great deal to dispel the perception of the estate agent.

Herefordshire is a small county by population but a diverse one when it comes to property prices, which means the advice of a very local agent is vital to agree the all important and correct asking price.

Over my nearly 40 years in the profession, the owners’ perception of their house has changed – in my early years a house was a home and the owner lived there for many years.

In the past 10 years, the average stay at a house has reduced to just seven years and it has been increasingly looked upon as an investment.

How I would like to get back to the “house is a home” attitude, particularly when buying, when so often the first thought is a deal, rather than “do I want to live here and make this a home”.

With the obvious fall in house prices over the last six months and the lack of confidence in the market, there are fewer transactions and new house building numbers down to the 1945 level.

We are in a time of re-setting of house price levels but the key to a return to normal activity is confidence, confidence in stable prices.

During the last eight years the £250,000 and £500,000 price levels for a change in stamp duty rate has remained the same, bringing more and more purchasers into large duty payments.

The threshold for stamp duty at £125,000 was tinkered with a couple of years ago but at this level, it brings all two-bedroom starter homes into the 1% stamp duty band.

A large proportion of house transactions depend on the first-time buyer to put a bottom in the market.

My very local experience in Bromyard is that there are first-time buyers out there but after they have saved for a deposit, are then faced with a further £1,300 to £1,500 for stamp duty – often “the straw which breaks the camels back”.

After eight years with virtually no change in levels for stamp duty and the increase in house prices, over this time the Chancellor has done very well from this tax.

I realise the upper bands are an argument for another day but the first-time buyers need help.

A starter threshold increase from £125,000 to say £150,000 would help them, help transactions up the line and help get the market going again.

Such a move could, and I consider would, re-establish confidence in the market. With increased activity, the Chancellor would be far better off and this small but important measure would not be inflationary.

A stable confident house market is so important to a lot of diverse businesses and does a great deal to ensure a good local economy.