Will the stamp duty cut REALLY help first-time buyers? As the Budget watchdog warns it will drive up house prices, we look at who saves money

The Chancellor has delivered a stamp duty giveaway that could save first-time buyers £5,000, but ultimately this will drive up house prices, the Budget watchdog has warned.
Philip Hammond slashed tax bills for first-time buyers today as he removed stamp duty up to £300,000 for all those buying their first home.
But the Office of Budget Responsibility said this would feed through into higher house prices, meaning first-time buyers pay more. Its review said: ‘Thus the main gainers from the policy are people who already own property, not the first-time buyers themselves.’
So will the stamp... read more

22 November 2017 in Business, Views: 60
Source: Daily Mail

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