Today's mini-budget announcement

Hi all :wave:

Rishi Sunak is expected to announce a stamp duty holiday today, to help kick start the housing market. This change would mean most homebuyers won’t have to pay any stamp duty on properties up to £500,000. :house_with_garden:

What are your thoughts on this? Good/ bad idea?

Oh, so a Conservative government comes up with yet another scheme that will inflate house prices and help the super rich…

All these schemes and changes just get factored in to asking prices, ultimately benefiting property owners and developers higher up the tree.

@Gaoler You have a point here… increased activity in the market could also mean more buyers, more buyers will mean fewer houses, fewer houses will mean higher prices?

Although, it could be a great help to anyone thinking of buying their first home in London where most property prices are over £300K!

Again, I don’t think it is necessarily…

That 400k house now just went up by an amount not dissimilar to what you would have paid in stamp duty, I suspect.

It’s a fig leaf at best and overheating the market at worst. No government in recent memory has wanted to face the fact that financial incentives and controls are just not going to sort out the housing crisis.