Stamp duty change expected to spark homebuying rush

Quick Summary:

Nationwide predicts a fifth of first time buyers will pay the tax going forward, affecting activity.

At the moment, buyers of homes worth less than £250,000 don't pay stamp duty.

From March 2025, changes introduced in Wednesday's Budget mean many will pay the tax when they would not have done previously.

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Article Details

Category: Business

Markets: United KingdomIreland

Topics: England Rise Changes Year Rates Impact Budget Buyers Duty Stamp

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 12:17:37 (4 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 540 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23431626

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 8 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 8 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #43

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