Budget Positives!

It has also been announced that stamp duty will be tiered for first time buyers up to £500,000 with them not paying anything on the first £300,000 of their purchase. This is finally something positive for the housing market that will actually benefit buyers in our areas.

With stamp duty levels at £125,000 being largely irrelevant in our locations this means that there is a significant saving for people buying for the first time in our area.

It should have a very positive affect on our development at 1043 London Road where the remaining flats are around £300,000. We have a young couple who have used the help to buy scheme to purchase their first home. They have bought one of our 1 bedroom apartments which was on the market for £260,000. They exchanged contracts late last week and are actually completing and moving in this Friday so with the chancellor announcing that this will come in with immediate affect I am sure they are over the moon and will treat themselves to a bottle of wine and a take away on their first night in their new apartment.

This article is by Rob at Scott & Stapleton
Tel: 01702 471155
Email: rob@scottandstapleton.co.uk

To read all of Rob's previous property blogs, please click the link here