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87% of Britons think Conservative policy will help first-time buyers

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  • 87% of Britons think Conservative policy will help first-time buyers

    George Osborne, the shadow chancellor, announced last week at the Tory party conference that they would scrap stamp duty on properties worth under £250,000. 87% of Britons believe that this would help first-time buyers to get on to the property ladder. Mr Osborne said that the Conservative party would scrap stamp duty for 90% of first-time [...]

    More: 87% of Britons think Conservative policy will help first-time buyers

  • #2
    Thought I'd stop lurking and actually post something on this forum.

    Both Labour and the Conservatives have been targeting stamp duty cuts to help out first time buyers - to me the policy is crazy. If you reduce stamp duty buyers have more to spend, however since everyone gets it then it will just drive up house prices. It is the same as giving everyone £x to spend on buying a house, of course it will drive prices up.

    The policy will benefit those selling houses. As the tax goes down prices go up and the seller effectively keeps what the taxman used to get.

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    • #3
      Hi Dreaming Silver and welcome to HomeMove.

      Agreed - the problem isn't stamp duty as this is inapplicable under homes of £150k anyway - so isn't likely to impact too many first time buyers. It's the higher end housing market that is more likely to benefits - ie, homes over £250k. Which doesn't make sense??

      IMO the big place the government should be targeting is tax relief for buy-to-let purchases. Remove that, and you remove one of the last incentives for BLT to compete, and if you remove that level of competition - currently 10% of the market - then you free and ease up the first time buyers in my opinion.

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