property buyers boosted by Chancellor's stamp duty change
Burnham-On-Sea estate agent says the Chancellor's decision to
reduce stamp duty on house sales is already benefiting buyers
in the town.
Hale from CJ Hole in Burnham High Street says: "Since the
Chancellor's Autumn Statement and the change in stamp duty levy
we have already experienced a feeling of excitement and anticipation
with purchasers already reaping the rewards."
recently exchanged property transactions in Burnham have seen
savings of £700 each."
agents we see the major change locally on properties that have
been forced to stay below £250,000 due to the stamp duty
increasing from 1% to 3% on the total value."
recent change means buyers paying over £250,000 for a property
could save themselves over £5000."
previous stamp duty thresholds have always proved to be a stumbling
block but now the new thresholds could see property prices creep
added: "This year has been another successful year and confidence
in the local market remains strong and although house prices in
Somerset have risen 4.2% annually buyers are still looking to
secure the right property at the right price and the saving in
stamp duty can only assist with successful negotiations between
buyers and sellers."