As an owner of a property valued at £250,000 and soon to sell, I am delighted with the news that this property will now be exempt from stamp duty for the next two years.
As a Chartered Surveyor, I am again delighted as this will no doubt lead to an increase in sales to first time buyers and potential parents helping their children onto the housing ladder.
The downside is the £1 million plus bracket. This end of the market is likely to stall given the increase in stamp duty to 5%. A £50,000 tax bill for buying a terraced house in London may be a little off putting next year.
Between now and April 2011 though we have an election and clearly these changes may not go ahead.
This summer looks good though, we have been told this week by weather forecasters that we are possibly in for the warmest summer since 1976. This, a World Cup and stamp duty free up to £250,000 - after the winter of discontentment, perhaps the summer of happiness.
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