6
Jun
Call for stamp duty exemption for first-time buyers
The government has come under further pressure to axe stamp duty
for first time buyers.
Property website SmartNewHomes.com advocated the action to
encourage housebuying.
With many first-time buyers unable to afford a foot on the property
ladder website director David Bexon says exemption from stamp duty
could help them make their first purchase.
He commented: "The Bank of England needs to cut interest rates
further, lenders need to start passing rate cuts onto consumers and
the government needs to take some practical steps to get the market
moving once again."
According to SmartNewHomes.com, 28.3 per cent of young working
households are currently unable to afford their own home.
The company's stamp duty plea follows a similar appeal recently
from the National Association of Estate Agents (NAEA) and last year
the Conservative party promised to axe the tax for first time
buyers on all homes priced at less than £250,000.
