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Article: Stamp duty deters first-time buyers You scrape every penny together to buy, then the Government swipes thousands of pounds more. Jenny Knight asks, can anything be done?
- Article from:
- The Sunday Telegraph London
- Article date:
- March 7, 2004
- Author:
CopyrightCopyright 2004 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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THREE IN FOUR first-time buyers now have to pay stamp duty,
compared with fewer than one in five just 10 years ago, according to
figures published last week by the Nationwide Building Society. The
average first-time buyer now pays pounds 1,070 in stamp duty, rising
to a massive pounds 1,894 in London.
Little wonder then that the number of people buying their first
property has slipped to its lowest level for 20 years.
Nationwide is calling on the Government to raise the threshold at
which stamp duty is paid from pounds 60,000 to pounds 150,000 for
first-time buyers. This is the level at which it would start to kick
in had the thresholds been increased in line with the house price
index over ...
Related newspaper, magazine, and journal articles:
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Article: We'll axe stamp duty up to [pounds ...
The Daily Mail (London, England);
April 22, 2005 ;
700+ words
... ... starting point for paying stamp duty would rise from [pounds sterling]120,000 ... campaign. His move on stamp duty capped a [pounds sterling]4billion ... years ago you paid [pounds sterling]900 (stamp duty) on the average house ...
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