Don’t dither on stamp duty

The election that never was killed Labour’s chances of a fourth term, the “will they, won’t they” over stamp duty could kill the housing market.

If you thought that stamp duty might be suspended in the Autumn, would you buy a home now? No, me neither. So the entry end of the housing market is frozen because Brown and Darling can’t even make up their minds about this electoral bribe.

If they do decide to suspend stamp duty, it would be nice of them to explain where the money is coming from at the same time.

2 responses to “Don’t dither on stamp duty

  1. To really make this work there has to be an end date to the stamp duty holiday so that buyers know that they cannot just wait for house prices to fall even further.The government / London Assembly should now be buying up residential properties to help alleviate homelessness, providing more social housing provision and working with housing associations on shared ownership schemes. By intervening directly in the housing market the government can have more of an impact than by nationalising banks.If they were to keep stamp duty and use the revenues to buy property they would be able to buy around 2.5% of all houses on the market, creating a significant boost to the market.

  2. To really make this work there has to be an end date to the stamp duty holiday so that buyers know that they cannot just wait for house prices to fall even further.The government / London Assembly should now be buying up residential properties to help alleviate homelessness, providing more social housing provision and working with housing associations on shared ownership schemes. By intervening directly in the housing market the government can have more of an impact than by nationalising banks.If they were to keep stamp duty and use the revenues to buy property they would be able to buy around 2.5% of all houses on the market, creating a significant boost to the market.

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