18 Dec

End of stamp duty holiday 'will not greatly affect first-time buyers'

End of stamp duty holiday 'will not greatly affect first-time buyers'

First-time buyers are not likely to be particularly affected by the end to the government's stamp duty holiday, a property specialist has stated.

According to Lucian Cook, director of residential research at Savills, the challenge of raising a sizeable deposit is a greater problem for those attempting to get on the property ladder.

He commented: "It may affect sentiment a little but in terms of the cash which is being saved, it is not significant in the context of the deposit that they have got to raise."

The threshold for stamp duty is set to revert back to its £125,000 limit on December 31st, following a period where the level was increased to £175,000.

Statistics released by the National Association of Estate Agents (NAEA) on December 18th revealed that only 19 per cent of registered house purchasers were first-time buyers in November.

This is the lowest proportion recorded since December 2008, when it stood at 11 per cent, the NAEA added.ADNFCR-1222-ID-19520500-ADNFCR

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