3
Sep
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.
