Stamp duty will be scrapped for first time buyers on homes less than £250,000!

Stamp duty will be scrapped for first time buyers on homes less than £250,000, from midnight tonight (24 March 2010) and for this year and next.

The doubling of the threshold means nine out of ten buyers will no longer have to pay stamp duty. In addition, Chancellor Alistair Darling has put into place a requirement for local authorities to maintain a five year supply of deliverable, viable housing land as well as proposals to reduce the regulatory burden on housing development.

Extending the stamp duty holiday and doubling the threshold ensures a wider range of stunning new builds in desirable locations are even more affordable, so with better weather and lighter nights on the way now is the ideal time to find you new home with smartnewhomes.com (The new homes website).

Here's our selection of ten cities which feature more than 50 stunning new homes, all now exempt from Stamp Duty (or find new homes under £250,000 near you):

Birmingham - New homes beneath the stamp duty threshold - under £250,000.

Bristol - New homes beneath the stamp duty threshold - under £250,000.

Edinburgh - New homes beneath the stamp duty threshold - under £250,000.

Glasgow - New homes beneath the stamp duty threshold - under £250,000.

Leeds - New homes beneath the stamp duty threshold - under £250,000.

London - New homes beneath the stamp duty threshold - under £250,000.

Manchester - New homes beneath the stamp duty threshold - under £250,000.

Middlesbrough - New homes beneath the stamp duty threshold - under £250,000.

Nottingham - New homes beneath the stamp duty threshold - under £250,000.

Sheffield - New homes beneath the stamp duty threshold - under £250,000.

See Also: Property News (6711), Stamp Duty (25), Alistair Darling (7)