5 Aug

Stamp duty possibilities welcomed

Stamp duty possibilities welcomed

News that the government may be considering changes to ease the burden of stamp duty on home buyers have been welcomed across the housing industry.

It has been speculated that a stamp duty holiday will be implemented to lower the up-front costs for those buying a home.

Executive chair of the Home Builders' Federation Stewart Baseley said that if the speculation is true "it is a welcome initiative and shows that minsters appreciate the problems the current housing market situation is causing people looking to buy and sell properties".

However, more should be done on top of this to improve liquidity in the market.

David Bexon, managing director of new homes firm SmartNewHomes.com, said that the stamp duty move could lead to a "surge" of new buyers, but like Mr Baseley suggested that more needed to be done about the underlying liquidity problems in the market.

Chancellor Alistair Darling has told the BBC a "number of measures" are under consideration, but did not confirm any clear plans.

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