Spring Statement 2018: 60,000 first-time buyers get stamp duty boost

27,000 ‘affordable new homes’ to London

Hannah Godfrey
clock • 1 min read

Some 60,000 first-time buyers have benefitted so far from the changes to stamp duty first announced in the last Budget.

In today's Spring Statement, Chancellor Philip Hammond took the opportunity to praise reforms to stamp duty calculations he set out in November.  So far some 60,000 first-time buyers have taken advantage of the changes that saw stamp duty abolished on all properties worth up to £300,000 and on the first £300,000 of properties worth up to £500,000 in high price areas like London. At the time, Hammond said the change meant no stamp duty at all for 80% of first-time buyers, and a cut for 95% of all those purchasing their first home. In the previous Budget, Hammond pledged to spend at ...

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