Property News · November 23, 2017

How the OBR quickly spoiled Hammond's housing help lines


The new stamp duty threshold doesn’t look so good outside London and as for the £44bn worth of measures? That’s actually £15bn … spread over five years The excitement over the chancellor’s modest surprise – the abolition of stamp duty for first-time buyers purchasing properties worth up to £300,000 – lasted about five minutes. The Office for Budget Responsibility quickly pointed out that this supposed giveaway will increase house prices. The winners will be people who already own a house, not those trying to enter the market.Philip Hammond might counter that first-time buyers, by saving up to £5,000 in stamp duty, will be able to save more money for a deposit. Yes, but the numbers won’t impress outside London. Continue reading…

Source : theguardian.com
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