Mon 26 Sep 2022
Commenting on the increase of Stamp Duty Land Tax (SDLT) thresholds announced in the Chancellor of the Exchequer’s September Statement Growth Plan on Friday (23 September), Richard Cleaver, Head of Residential, said:
“While it is easy for headlines to focus on house prices - which do remain historically high - as an indicator of a healthy housing market, it is activity which drives forward the housing market.
“And so the permanent increase of thresholds before SDLT is levied, and the adjustment upwards for first time buyers’ liability are well received by Shoulers.
“Any measures which encourage housing market activity are to be welcomed.
“If these SDLT changes and the other fiscal and policy measures announced in the mini-budget last Friday encourage economic growth and stability then that can only help housing market moves.
“These most recent announcements, combined with earlier measures by the new administration to help alleviate the cost of living crisis, have obviously been designed to chart a stable path for the economy and this, in turn, should reinforce confidence in the housing market.
“Shoulers’ commercial and rural professionals are digesting the detail of the Chancellor’s statement and, as ever, we will all be offering best advice to clients on their land and property business interests following Friday’s mini-budget satement.”