Today's mini-budget is the first economic proposal to be set out since Liz Truss became Prime Minister earlier this month
£925,000 – £1,500,000=10 per centThe average stamp duty that a homebuyer pays is currently £8,258, based on the average asking price of £365,173, according to Rightmove.On the face of it, cutting stamp duty is a good thing for people planning to buy houses, as it means they pay less tax on their purchase, making the home more affordable.
“If someone asked me how to drive an already overheated property market into dangerous bubble territory and make things worse for everyone, this policy would be it.”saw the average UK house price jump by 15.5 per cent annually in July, according to the Office for National Statistics – the biggest increase in 19 years.: “You can see why the Government is concerned about the housing market, because there’s a risk that rising mortgage rates and rising prices will dampen buyer enthusiasm.
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