At last the the Govt has said what it will do rather than keep the headlines going about what it might do, and what damp squib it is:
Do these fuckwits really think that those who were looking at buying a £175k house were prevented for lack of £1,750? What planet are they on?
Homebuyers will not have to pay stamp duty on properties costing £175,000 or less for the next 12 months.
The current £125,000 threshold will be raised as part of a package of measures aimed at boosting the housing market.
Someone buying a home for £175,000 will save £1,750 under the scheme, which is likely to cost the Treasury £600m.
And then there's the unitended consequences:
On the good side houses prices at £176k to, say, £200k will now be put under pressure to drop their prices to £175k. Well that's good if you aren't a forced seller.
On the down side those who had priced the £125k limit will be tempted to push up their price by a few £k, affecting the first time buyer.
My guess is that this is going to get a real slating and I'm keen to hear a few beeb vox pop on my way home. It could even be counter productive for Labour once people realise it was just a sop.