Stamp duty cut

westernpromise

Crashtrolls, whatever you do - DON'T BUY A HOUSE ! It's a trap!

Fella

Makes me laugh the various outlets like the Daily Mirror rushing to say how this move won't do anything, all smugly pronouncing that "sellers will simply put prices up to compensate".

This is utter tosh & one of the weakest arguments I've heard in a long while. How exactly is that supposed to work then? Somebody who has their house on the market at say £300K & hasn't sold it is going to ring their Estate Agent this morning & tell them to put it up to £305K?

Everytime Gordon Brown raised Stamp Duty, I don't recall people saying "it's no problem because sellers will simply lower prices".

Stamp Duty is an iniquitous tax & any move to lower it is good.

Interesting to see how incompetent Corbyn continues to be when he has to work without a script. All he could manage in response to the budget yesterday was a shouty incoherent rant. Also wasn't he supposed to be PM by now?

System

More money chasing the same amount of goods generally means rising prices.

Carl31

There was a guy on LBC this morning that saved £5k on the announcement as he was buying in London and held off for the Budget. Thats £5k he could have afforded more for the purchase instead had the timing been different

I think it could be exploited by developers of new builds, they could factor it in to their pricing, not so much on the open market

Ozzuk

One of my thoughts on this was 'wow that is going to upset crashy' which means I'm spending far too much time on this forum!

Fella

It won't increase house prices, the suggestion is a desperate attempt by the Corbynistas to rubbish the policy.

Brown massively increased stamp duty & house prices skyrocketed whilst he did so. They should have fallen according to the false logic being peddled on here.

Arklight

Fella wrote: »

It won't increase house prices, the suggestion is a desperate attempt by the Corbynistas to rubbish the policy.

Brown massively increased stamp duty & house prices skyrocketed whilst he did so. They should have fallen according to the false logic being peddled on here.

It's actually the Office for Budget Responsibility that said the stamp duty cut will push up prices.


https://www.ft.com/content/134a8a32-cf73-11e7-b781-794ce08b24dc


They also point to another 5 years of sclerotic growth in the UK economy just as the rest of the world is recovering, further impoverishing people who have had a decade of real term pay cuts, swingeing cuts to services, and all the other enervating misery that Tory governments provide until English people come to their senses.


In actual fact, no one really cares what is in Hammonds budget. It's a caretaker do nothing budget from a government that won't be in power for much longer.

westernpromise

Crashtrolls are angry about this because it removes one of their excuses for not buying. They regarded low interest rates as a trap, HTB as a trap, and this too. If prices fell 50% Crashy would regard that as a trap too because they might fall another 50%.

The only time you can buy property is now, not in the past. Crashtrolls should just get on and do it.

System

The HPC discussion on it is pretty reasonable to be fair.
http://www.housepricecrash.co.uk/forum/index.php?/topic/231676-explain-how-reduced-sdlt-increases-house-prices/

Fella

This OBR?

https://www.express.co.uk/news/uk/736383/OBR-Robert-Chote-Brexit-Autumn-Statement

Personally I don't value their analysis. Like most economists they are wrong most of the time.

Arklight

Fella wrote: »

This OBR?

https://www.express.co.uk/news/uk/736383/OBR-Robert-Chote-Brexit-Autumn-Statement

Personally I don't value their analysis. Like most economists they are wrong most of the time.

I am sorry but I am not reading a link about economics from a newspaper 80% of who's content is about aliens, alien vistors, people in Peru finding mummified alien babies, aliens on the moon, aliens walking among us, lost alien civilisations buried under Newport Pagnell, UFOs over the channel, and celebrity cleavage.