Boris Johnson's plan for massive stamp duty cuts?

[rabbitcarrot]

Just wondering what effect would be on the house market if Boris Johnson's stamp duty cut come to force in future?

Any government intervention which cuts costs raises house prices

And everything grinds to a halt while people wait to see if it happens.

Yes, especially to people in the process of property purchasing around this spring& summer, they will delay exchange of contract to October until stamp duty cut policy is clear. It is quite a lots of money for general working class.

Just worried once stamp duty cuts for under £500,000 in force, will it push house price increase this November/December?

Doubt any change would be in force before next april at the earliest... it's also an election promise so probably wont happen

It may happen though, in 2017 Autumn budget they announced stamp duty abolished for first time buyer under £300,000, which comes to effect immediately.. Because this is huge tax for general house buyers, if it really happened, so many people completed their purchase before that date will lose loads money for this stupid old policy.

Sadly we just couldn't predict the future..

It's wonderful to know that Boris plans to cut taxes (government income) and increase public spending.

Either he has found Theresa's money tree, or he is planning to increase public borrowing, and taxes will have to rise to pay the interest on it.

He also promises to push UK off the no-deal cliff, damaging the economy.

His ambitions are contradictory.

Do you think he can be believed?

Pigletjon - Im no ecomonist, but i think the logic is that cutting the stamp duty tax will in effect create more overall transactions. therefore raise same or more revenue. I am not at all surprised that people are currently staying put as the cost of moving is eye watering expensive and stamp duty is the main culprit.

Is it for 500k and under only?

The housing market has slowed down and prices have fallen in many areas. Perhaps that will help things tick over a little?

Boris says a lot of things. Then he often says completely contradictory things later.

The chancellor has said if we have a no deal Brexit then none of these spending plans can be financed.

Words are all that man has.

The 2017 stamp duty cut was part of the autumn budget... this is an election promise... ie unfunded nonsense, wont make a huge difference in london where the market has stalled the most as that is about the price of a 2 bed flat and still requires the people up the chain to sell and they will still have to pay huge stamp duty. In other parts of the country it could get things moving but prices are rising and things are selling everywhere but the south east