Stamp duty benefit for first-time buyers "overestimated"
A property expert has claimed that the effect of the stamp duty holiday for first-time buyers has been "overestimated".
The tax relief was introduced by chancellor Alistair Darling during last month's Budget and applies to properties under £250,000.
According to Paul Holmes, chief executive of FirstRung, the measure may not have had the impact people would like to believe.
Furthermore, he stressed that the government should not interfere with any initiatives and should let the housing market look after itself.
The latest research from Nationwide Building Society revealed a one per cent increase in average house prices across the UK in April.
Suggestions that the benefit of the stamp duty holiday have been overestimated may encourage more people to consider looking for property to rent in the London borough Hammersmith and Fulham or elsewhere in the country.
By Ben Carter
Published 30th April, 2010
© 2010 Estates IT Limited
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More people may be encouraged to consider looking for property to rent in the London borough of Hammersmith and Fulham or elsewhere in the UK after a property expert suggested that the effect of the stamp duty holiday was "overestimated".