New statistics show that the changes to Stamp Duty introduced last year have benefited over 240,000 people, helping more people to achieve the dream of home ownership.
Stamp Duty has been abolished for the vast majority of first-time buyers with 8 out of 10 now paying no stamp duty at all.
This reform to Stamp Duty is just one of the steps the Government has taken to fix the housing market, helping 500,000 people to get on the housing ladder.
Other schemes such as Help to Buy, for instance, helps first time buyers with the cost of the deposit for their new home.
Craig Mackinlay MP commented:
“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 this week that home ownership is up for the first time in a decade for 35-44 year olds.
“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.”