3 Sep

Stamp duty holiday 'helped property sales'

Stamp duty holiday 'helped property sales'

The stamp duty holiday on properties aided the housing market, according to one property expert.

Ray Boulger, from independent mortgage specialist John Charcol, said that what the government did in terms of extending the limit to £175,000 was helpful in that it spurred a rise in property sales, although it was only a small part of what it should have done.

His comments follow yesterday's announcement from the Treasury, which confirmed that the stamp duty holiday on properties costing under £175,000 will be extended until the end of the year, despite concerns from estate agents and mortgage specialists over its effectiveness and potential to create a 'mini-boom' in sales.

"For me the big problem with stamp duty is that the way the duty is calculated is grossly unfair," stated Mr Boulger.

The news comes after national estate agency group Haart predicted a rush to buy in order to avoid the increases in VAT and stamp duty that will come into effect by the new year.

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