Stamp duty decision will boost buyers and sellers
Published Date:
17 September 2008
NEW stamp duty regulations will have a positive impact on a large proportion of properties in Fleetwood.
The news that the threshold for paying stamp duty will be increased to £175,000 will not only affect first time buyers but also second and third time purchasers.
The current £125,000 threshold is due to be changed in a move aimed at kick-starting the housing market.
Someone buying a home for £175,000 will save £1,750 under the scheme.
James Dyson, of Fleetwood's 1st Fylde Estates, said: "Fleetwood is probably the most reasonable area on the Fylde Coast with a good proportion of properties under the £175k threshold.
"So the new threshold will not only affect first time buyers, but it will also have an impact on the second and third time buyers.
"It is as much of a bonus for those purchasers as it is for those stepping on the property ladder for
the first time.
"The new stamp duty will also have an impact on how vendors think about pricing their properties.
"Those at the £180k mark might reduced the price whilst those at the lower end of the market might not be as concerned about pricing higher than £125,000.
The Government estimates half of all property transactions will now be exempt from stamp duty – up from one third when the threshold was £125,000.
Communities Secretary Hazel Blears said: "This is part of a whole series of announcements to help people with the current economic difficulties that they face.
"We can't solve every single person's problems for them, but what they do expect from Government is, where we can, practical help."
The full article contains 284 words and appears in n/a newspaper.
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Last Updated:
17 September 2008 8:59 AM
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Source:
n/a
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Location:
Fleetwood