Did i hear Cameron say £250k stamp duty for eveyone last night?!

Barneysmom

Or this by me..........

http://www.rightmove.co.uk/property-for-sale/property-13619394.html

CLAPTON

the price of property is largely determined by affordability .. what you can afford to borrow, what you can afford to save and what lenders will allow you to borrow.

if stamp duty is abolished then people will be willing to 'spend' the stamp duty on a property... so property prices will rise until the same level of affordability is reached.

no winners there.

kaych

pault123 wrote: »

On leaders debate last night Cameron mentioned the £250k stamp duty threshold for everyone - but didn't mention first time buyers. Has anyone read his manifesto and can confirm this is true?

I've always though the £250k for first time buyers was ridiculous as if a FTB can afford a £250k pad I certainly think they can afford stamp duty!

Its not just FTB that are struggling in the housing market, people looking to upsize are often on just as tight a budget, so a couple of grand on top of the already high costs certainly hits the pocket.

£200 for everyone would be a more sensible rule.

But if he's going to give £250k for everyone then :money::money::money:

Just to answer your question, I looked up their manisfesto.... this may disappoint you:

Help the housing market to thrive

• Help first-time buyers get on the housing ladder, by increasing the stamp duty threshold for them to £250,000, so that nine out of ten first-time buyers will pay no stamp duty. This is a permanent tax cut, unlike Labour’s plans which are just for two years; and

http://www.conservatives.com/Policy/Where_we_stand/Housing.aspx

Pammy

pault123 wrote: »

Has it occured to you people generally earn more in London!

Yes that is true, so its difficult to compare on one level.

But although I dont agree Londoners should be helped more, it is fair to feel that you get priced out. I have lived in London my whole life, my family live here, yet I live in an area where a high number of wealthy overseas people have been attracted to the area. They have pushed prices up in my area and I have found it a struggle.

£250,00 is really peanuts in the market I am competeing in to buy a decent property and at times do feel a little hard done by as I have always lived here. Rightly or wrongly.

pault123

I think versus the rebuild value pretty much 90% of houses in the UK are well well overpriced, but unfortunely I can't see them ever dropping anywhere close to sub housing price boom levels.

Still i'd find it very hard to justify spending £320k on an apartment just because its in a certain area. If my town only had massively overpriced properties like this i'd simply move. Either out the area completely or into a different district and commute further.

£320k for an apartment is pretty disgusting really. :rotfl:

Batchy

Personally, the stamp duty doesnt bother me...

if I can afford it, then its fine, if i can't then either knock it off asking price or save up for a bit longer...

THE PROBLEM

is moving the goal posts... i was in a position to buy, but now, im waiting to see whether I can save 2k... worth the wait IMO.

At the moment I have a new car, which was a bargain, cheaper than cheap... these bargains right now don't exist, so yet again, i'll buy a banger and wait, and save some more... its not a problem, but it does influence how and when i'll spend, I like to time my purchases to suit me and my pocket, rather than the governments.

Batchy

The government subsidises the bad times to keep turnover high and keep factories working, so in the good times, they are well positioned to cope and pay huge taxes, and subsidise public services.

Its all a bit of a con, once the government starts medling with the numbers its just wrong.

I feel sorry for the buyers FTB's who brought a couple of days before the FTB holiday... those are the people who need to be protected.

Too many people will take advantage of this system anyway. Its there to be abused like most government initiatives.

pault123

This seems a bit up in the air now, as no mention of stamp duty in lib dem pledges, tory's havn't mentioned it since coalition, and new budget is due to be pushed through soon.

I think the housing market may be about to have its overdue slow down?

zarazara

Houses are over priced. They should all drop to half their value,then first time buyers could get a foot on the ladder.

hallmark

Unfair illogical tax. No-one should have to pay stamp duty on their sole property, it makes no sense to impose a tax on someone merely for buying somewhere to live.

Abolish stamp duty on PPR & double/triple it on BTL to make back the money. That'd make a fairer playing field for FTB versus BTL too.