Article: Derby estate agents want more help to revive housing market

Estate agents in Derby believe axing stamp duty on certain properties will not be enough to revive the housing market.

Alistair Darling, the Chancellor of the Exchequer, has today announced that properties worth pounds175,000 or less are to be exempt from stamp duty for 12 months.

The move, which comes into effect tomorrow, raises the current threshold of pounds125,000 on which one per cent stamp duty is paid and will save eligible property buyers up to pounds1,750.

The treasury has estimated that the stamp duty freeze will cost the Government pounds600m and expect the change to benefit almost 500,000 buyers.

Kate Green, the managing director of Newton Fallowell, in Derby, was confident ...

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