It would seem the government is mooting the idea of a Stamp Duty cut later in the year. The Times, The Daily Mail and the Financial Times all report that the Chancellor is looking to increase the threshold at which Stamp Duty is paid from £250,000 to £300,000 in the Autumn.
Estimates suggest this would impact 50% of transactions where buyers would pay no Stamp Duty at all. This change, plus the impending reduction of interest rates could help stimulate the property market at a point where it is expected to be sluggish, providing an exciting opportunity for first time buyers!
