Stamp Duty changes help 180,000 first-time buyers

Yesterday, new statistics showed that the changes to Stamp Duty introduced last year have benefited over 180,000 households, helping more people to achieve the dream of home ownership.

The Government are giving practical help to first-time buyers, reducing the burden that they face in purchasing their first home. Almost every first time buyer – around 95 per cent – will benefit from the changes, with around 4 in 5 paying no Stamp Duty at all.

These changes will save the average first-time buyer £2,300 and are just one of the steps the Government have taken to fix the housing market, helping people get on the housing ladder and have the security of their own home.

Craig Mackinlay MP commented:

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“It’s fantastic news that first-time buyers in Thanet are taking advantage of our cut to Stamp Duty to buy their first home.

“This comes on top of news last week that we have delivered 238 homes in Thanet and nationally, more homes than in all but one of the last 30 years - helping more people to get on the housing ladder and have a safe and secure home.

“But there is always more we can do, which is why I will continue to press for reforms to the Residential rate of Capital Gains Tax, which, if done correctly, has the potential to release hundreds of thousands of affordable homes and promote an inter-generational cascade of wealth.”