Jump to content
House Price Crash Forum

Recommended Posts

  • Replies 325
  • Created
  • Last Reply

Top Posters In This Topic

Stamp duty cut. Or in other words, 99% of luxury shoebox flats targeted at first time buyers will now rocket to £299,995.

Stuff like this simply inflates the market. It ALWAYS does.

PS This website is technically very poor. Slow and inaccessible. Needs a new server. 

Link to post
Share on other sites
39 minutes ago, thehowler said:

Gadzooks - stamp duty up to 300K gone...

Only for first-time buyers.

How long before the BTLegraph runs an article with a sob story about someone buying a home who has unfairly been denied this stamp duty exemption because their small existing portfolio of buy-to-let flats means that they don't qualify as a "first-time buyer"?  I predict Saturday week (2 December).

Link to post
Share on other sites
3 minutes ago, Tempus said:

Stamp duty cut. Or in other words, 99% of luxury shoebox flats targeted at first time buyers will now rocket to £299,995.

Stuff like this simply inflates the market. It ALWAYS does.

PS This website is technically very poor. Slow and inaccessible. Needs a new server. 

or stuff at 350k will now look un attractive and work the other way 

Link to post
Share on other sites
2 minutes ago, Dyson Fury said:

Only for first-time buyers.

How long before the BTLegraph runs an article with a sob story about someone buying a home who has unfairly been denied this stamp duty exemption because their small existing portfolio of buy-to-let flats means that they don't qualify as a "first-time buyer"?  I predict Saturday week (2 December).

Yeah it will be one of those ‘I own a BTL property and I rent’

Link to post
Share on other sites

Business rates relief
FTB SDLT abolished up to £300k.
Extra £15bn in housing (builder) funding, loans, guarantees.
£125m increase in target affordability funding for private rents.
Council tax premium on empty homes increased from 50% to 100%.

Maybe:

Review on gap between planning permissions and housing starts.
Consult on minimum densities for city centre developments.
Consultation on developer contributions towards affordable housing & local infrastructure.
Develop innovative solutions that help FTBs ensure rental payments recognised in mortgage applications.
Consult on barriers to landlords of offering more secure tenancies.
Consult on tax treatment of gains accruing on property disposals by non-residents.

Link to post
Share on other sites
4 minutes ago, stuckmojo said:

Makes ****** all difference - everyone has figured out that the gap goes in pricing. Though easier to swallow as it's not technically a cash outlay

I'm assuming it'll be the same rules as the HTB ISA. Which means nope, you're not a FTB. I owned a 1/3 share in 60k house around 5 years ago and so miss out too. Great.

Link to post
Share on other sites
5 minutes ago, Calcutta said:

Any quick mathematicians know how much the stamp duty joke is going to cost the treasury?

all in the budget documents (text searchable pdf) which you can download from

https://www.gov.uk/government/publications/autumn-budget-2017-documents

page 28

£125 million this tax year, thereafter £560 million in 2018-19 rising to £670 million in 2022-23.

I was sure Mr Hammond was going to say "this tax concession to FTBs must be paid for by those better off, hence I'm increasing the additional property SDLT surcharge to 5%", but no luck. 

Link to post
Share on other sites

"The OBR says that First Time Buyers will be made worse off post Stamp Duty [cut] because it assumes that property prices will rise by twice the amount of this permanent cut." https://twitter.com/faisalislam/status/933343799983706112

So it is nothing more than a cynical attempt to get first time buyers to inflate the market.

They know it won't help them. They expect it will put up prices. 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.