An Edinburgh property company has called for a shake-up of Scottish housing policy in order to rejuvenate the market.

ESPC has said Holyrood must act to stimulate the sale of existing homes.

The firm submitted written evidence to the Infrastructure and Capital Investment Committee's review of the government's 2013-14 Draft Budget, calling for a "radical rethink" of the incentivisation to buy new builds at the expense of existing homes.

ESPC said the government must take "bold steps" and drew attention to what it sees as the benefits of a home market which accounts for 80% of total home sales.

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The government must create greater confidence for homebuilders, increased labour mobility and firm foundations for economic growth through greater household wealth, according to ESPC

CEO Malcolm Cannon said: "ESPC holds extensive data which shows that there is a strong desire amongst Scottish households to own a home. A robust housing market is of crucial importance to Scotland's economic future and the Scottish Government must introduce policies that have the potential to turn this demand into a thriving sector and drive property sales.

"Initiatives like shared equity and mortgage indemnity schemes are important tools in getting the market moving again. However, the current policy emphasis is weighted too heavily in favour of new builds over existing homes, despite existing homes making up the greatest share of the housing market.

"If we truly want to breathe new life into the market, we are going to need policies that provide the right assistance to all households looking to move, regardless of the type of home they wish to purchase. To achieve that, the government needs to introduce new ways to extend the benefits of home ownership to as many households as possible."

(IT)