Forbes Estates
Published by Paul Forbes · August 11 at 12:01 PM ·
* The new Prime Minister, Boris Johnson, has said he is considering stamp duty reform during his premiership
* Changes to stamp duty can have a big impact on cooling or stimulating the level of activity in the UK housing market.
Measures he has aired publicly to date include:
• Increasing the base threshold to £500,000 from £125,000 to increase activity at the bottom end of the market
With an Average House Price in Chorley Of £193,000.00 this will certainly help Local buyers
• Reducing the top rate tax to 7% from 12% for £1.5m+ homes to increase activity at the top end of the market
• Sellers paying stamp duty and not buyers. However this is likely to be very unpopular with current owners having to
pay tax twice
* Unfortunately there are no plans to eliminate the 3% surcharge on Landlords and Investors
For further information or any local property advice please email info@forbesestates.com, DM or contact Paul Forbes on 01257 273324.
