Propertymark responds to the UK Government’s announcement on changes to Stamp Duty

Nathan Emerson, CEO of Propertymark, responds to the UK Government’s announcement on changes to Stamp Duty.

“The rebalancing of the thresholds for which stamp duty is paid, in particular for first time buyers is long overdue to catch up with house prices which have risen at an extraordinary rate.

“We did hope that stamp duty for downsizers or last time movers would have also been reviewed to release the latter part of the market, which when blocked stops movement further down for second steppers and first-time buyers, causing stagnation as buyers have nothing to move on to.”

Kindly shared by Propertymark

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