First Time Buyers have saved money since stamp duty cut

Posted 7 August 2018 by Neil Moore

According to figures recently released by the Government, First Time Buyers have saved millions of pounds since the stamp duty cuts last year.

As you are probably aware, in 2017, the Chancellor introduced stamp duty relief to help young people get on to the first rung of the housing ladder, with homes less than £300,000 exempt from tax.

Now, according to HM Revenue & Customs’ quarterly stamp duty land tax statistics, 121,500 first-time buyers have saved a total of £284,000,000 since the Government’s cut to stamp duty, which analysis by Savills says equates to around £2,385 per buyer.

Read more here on the NAEA website.

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