Online House Hunter: Stamp duty deadline approaches… | Alan Cleaver | Independent Property Blogs

Online House Hunter: Stamp duty deadline approaches… | Alan Cleaver | Independent Property Blogs

EXEMPTION from stamp duty on houses costing less than £250,000 for first-time buyers comes to an end on March 24. But there is another sector of zero-rated housing that the tax man doesn’t shout about.

Not surprisingly, estate agents have been seeing first time buyers rushing to take advantage of the stamp duty relief before the deadline arrives. The National Association of Estate Agents reports that 23 per cent of sales in January were first-time buyers – a third consecutive month in increasing sales to FTBs.

NAEA president Wendy Evans-Scott said: “The NAEA and other property specialists campaigned hard for the Government to introduce the tax exemption to support First Time Buyers, and these latest figures certainly suggest that stamp duty is a key factor for those on tight budgets purchasing their first home.

“We are deeply disappointed that Ministers have axed this support for a crucial part of the housing market which has benefited so many house-hunters in getting onto the property ladder.”