Steve Lees, Marketing Director of smartnewhomes.com, comments on the lack of any reference to the Stamp Duty exemption for First-Time Buyers on homes under £250,000 in today’s emergency budget:
“George Osbourne made no mention of the property market but the ‘Red Book’ says that the Stamp Duty exemption for first-time buyers on homes up to £250,000 is under review.
“First-time buyers are the lifeblood of the property ladder, feeding demand from the bottom. A decision to maintain support for them would be a decision to support the market and would have indicated that there was substance behind Housing Minister Grant Shapps’s recent commitment to supporting home ownership. The exemption would also support regional economies as 95% of eligible buyers come from outside London and the South East.
“This measure deserves the chancellor’s full support. To withdraw it would be a massive blow to the entire housing market.”
See Also: The Smart Comment (19), Budget (5), Emergency Budget (1), Press Releases (371), Property News (6711), Stamp Duty (25), George Osbourne (1)
Date Published: 22 June 2010
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