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Non homeowners who are waiting to buy - would you move sooner if stamp duty abolished?

(7 Posts)
CountessDracula Wed 06-Aug-08 12:50:14

I wonder if they will actually do it?

I should imagine if they do temporarily there may be a stampede!

Sonnet Wed 06-Aug-08 13:00:06

Yes I owuld definatly move sooner....

DillyTanty Wed 06-Aug-08 13:03:28

i know the markets are depressed in england etc but wouldn't this just mean that the amount of money people would have to offer on a property would be raised by the saving in stamp duty?

nervousal Wed 06-Aug-08 13:06:26

Dilly - why? Stamp duty is a separate payment to Gov. Seller never sees it?

DillyTanty Wed 06-Aug-08 13:09:28

buyer pays it tho. so they have to have it in their pot of cash, don't they, and would have to factor that in when knowing what they can afford. it's probably more relevant to the scottish sealed bids system.

fiodyl Wed 06-Aug-08 14:47:47

Nope it wont make any difference to us.

Reason we are not buing is because we cannot afford the silly prices normal houses have reached in the last few years.

House prices need to fall so that an average family witha n average income can afford to buy and average house, stamp duty or no
stamp duty.

Until this happens we will just keep on renting and saving.

Upwind Wed 06-Aug-08 14:53:53

There won't be a stampede. Stamp duty is insignificant compared to the sheer stupidity of ordinary houses costing at least 10 x the annual salary for ordinary jobs. It is obvious to nearly everyone now that housing is overpriced, and with prices falling so fast now waiting makes the most sense.

What speculation about stamp duty or other measures will do, is stop anyone from buying as they wait to see if they can benefit from this. Some people have to sell, so unless this is sorted out very soon, it will cause housing transactions to reach a record low in August and prices to fall even more dramatically.

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