Proposal of 3 year holiday on stamp duty for FTBs on houses to £300,000

Monday 27 April 2015

NAEA Managing Director Mark Hayward welcomes Labour’s proposal of a 3 yr holiday on for first time buyers for properties under £300k but supply remains the key issue.

“This could be a real vote swinger for those looking to step on the housing ladder.

"Scrapping stamp duty for homes under the price of £300,000 would only mean good things for hopeful first time buyers (FTBs). For many, hidden costs such as stamp duty can be the difference between being able to afford a home, and not being able to afford one.

"Our recent research showed that just under a third of house sales were made to first time buyers, and hopefully we’ll see this significantly increase over the next three years.

However supply remains the biggest obstacle."