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Stamp Duty removed on all property purchases in the UK up to 175k for the next year.
Ceiling raised from 125k.
Yet you still have to pay 3% at just 75k above that? 250k. WTF. 
I thought. that's nice, they'll get the low end of the market moving again but apparently 50% of all property purchases in the UK today are still under 175k! Is that right? You can buy fcuk all for 175k in the South of England these days. Ouch.
The South East has always had the biggest artificial 'bubble' prices. Average house price in Glasgow is 150K and in Edinburgh is 170K. And guess what.....prices up here haven't stopped rising since the 'credit crunch' albeit at a dramatically reduced rate. Selling times have increased by three weeks which is nothing really.
It'll defineately help the market and make a big financial difference to a lot of folk.
Kathryn wrote: Well, it's still very good news for me!
I'm hoping it'll be good news for everyone if it gets the facking housing market moving again! 
It's taken - what? - a good six weeks for the government to finally come out and explain their position on Stamp Duty after some airy-fairy throwaway comments.
'Airy fairy' - very good assessment.
Hopefully now will get some interest and be able to move! Hoooorahhhh
north and south prices - it was in the papers last year that a dolls house was for sale in harrods for 30k,yet a terrace house in woodnock,accrington,lancashire was up for just 29,000
current average price of a house in the uk £164k
so stamp duty goes above the average price.
Stamp duty cut is only relevant if you're planning to move, or for property developers who will be snapping up low-value houses and renting them to folk who are pushed back out of ownership.
I feel sure that is the purpose of this: to keep interest in buy-to-let.
There's another initiative along these lines - letting people sell their homes to trusts and renting back at a rate they can afford.
DJ Diamond wrote: Stamp duty cut is only relevant if you're planning to move, or for property developers who will be snapping up low-value houses and renting them to folk who are pushed back out of ownership.
I feel sure that is the purpose of this: to keep interest in buy-to-let.
There's another initiative along these lines - letting people sell their homes to trusts and renting back at a rate they can afford.
You are SO sensible sometimes Col!
However, I have been planning to move for over 10 years, so I think above everyone else, I deserve £40 towards a removal van? Yes?
DJ Diamond wrote: Stamp duty cut is only relevant if you're planning to move, or for property developers who will be snapping up low-value houses and renting them to folk who are pushed back out of ownership.
I feel sure that is the purpose of this: to keep interest in buy-to-let.
There's another initiative along these lines - letting people sell their homes to trusts and renting back at a rate they can afford.
Buy-to-let loans account for only 9% of outstanding mortgages (I just read that in the GSPC today). It's not a hugely significant sector and I don't reckon it's got anything to do with todays cut.
That said, you're spot on in your anlysis of who is likely to benefit most from the cut; landlords and developers. Any landlord with half a brain wouldn't be looking at anything over 100K at the minute, the yields just don't add up at anything more expensive. The affordable, under-valued property sector (sub 100K) is going to see the largest price inflation over coming years and this stamp duty cut will help stimulate it further. I predict a 15 to 20% increase in value over the next two years.
Anyway, the biggest threat to our wealth is rising food and utility costs. I've never known a time like it. It's murder!
DJ Diamond wrote: Stamp duty cut is only relevant if you're planning to move, or for property developers who will be snapping up low-value houses and renting them to folk who are pushed back out of ownership.
Stating the bleedin' obvious, Col.
It's only gonna benefit those buying or selling property! 
An area which is basically stagnant for the majority of the country at the moment. :(
I don't think the reforms really go far enough, can't see how it's gonna make a massive difference in the South-East at present, but if it gets new blood into the property market and starts to trickle it's way through to the top then it's a start I guess?
Got a mate who works for Telford Homes who says their cheapest gaffs they're selling in town were 180k - one-bed flats in Romford, of all places. So they've all dropped to 175k now. Can't imagine you can find much cheaper in London though. Not somewhere you'd wanna live anyway.
