NEWS


  • TREASURY MINISTER CREDITS STAMP DUTY CUT FOR BIG RISE IN FIRST-TIME BUYERS

    Mel Stride

    TREASURY MINISTER Mel Stride MP has hailed the abolition of Stamp Duty for first-time buyers purchasing properties under £300,000 as a key reason behind a massive increase in first-time buyers managing to get on the housing ladder. 121,500 first-time buyers have saved a total of £284 million thanks to the Stamp Duty cut according to official statistics released today (31/07/18) which cover the period until 30th June this year.

    Over the next five years, it is estimated that the government’s flagship housing policy will help over one million people get onto the housing ladder.

    The Central Devon MP, who pressed hard within the Treasury Department for the Stamp Duty cut, said:

    “The cut to stamp duty for first-time buyers is helping to make the dream of home ownership a reality for a new generation. It is one less thing that families have to save up for in order to get on the housing ladder, making the leap that little bit easier. The fact that the number of first-time buyers is up by 86% compared to a decade ago is clear evidence of that. It is also proving very popular in counties like Devon where wages are below the national average, but house prices are higher than average, so that first step onto the housing ladder has been a tricky one to make.”







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