Stamp Duty Ending

Thrugelmir

grumiofoundation said:

Crashy_Time said:

Thrugelmir said:

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

The people trying to scrape their way onto the housing "ladder" do actually need it though, that is why there has been a mad spike in housing activity as people get suckered into thinking saving a few grand is worth overpaying tens of thousands for basic accommodation, it makes sense at the monthly payments level if they can just get in the door, alas that is how a lot of people have been brainwashed to think!

Why has the average house price in wales gone up by basically the same (think actually slightly more) as England then, despite a far less generous LTT (equivalent of stamp duty) holiday? 

No tolls on Severn bridge. Opened up the area to commuting. 

grumiofoundation

Thrugelmir said:

grumiofoundation said:

Crashy_Time said:

Thrugelmir said:

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

The people trying to scrape their way onto the housing "ladder" do actually need it though, that is why there has been a mad spike in housing activity as people get suckered into thinking saving a few grand is worth overpaying tens of thousands for basic accommodation, it makes sense at the monthly payments level if they can just get in the door, alas that is how a lot of people have been brainwashed to think!

Why has the average house price in wales gone up by basically the same (think actually slightly more) as England then, despite a far less generous LTT (equivalent of stamp duty) holiday? 

No tolls on Severn bridge. Opened up the area to commuting. 

From Pembrokeshire? Or Anglesey? 

Crashy_Time

grumiofoundation said:

Crashy_Time said:

Thrugelmir said:

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

The people trying to scrape their way onto the housing "ladder" do actually need it though, that is why there has been a mad spike in housing activity as people get suckered into thinking saving a few grand is worth overpaying tens of thousands for basic accommodation, it makes sense at the monthly payments level if they can just get in the door, alas that is how a lot of people have been brainwashed to think!

Why has the average house price in wales gone up by basically the same (think actually slightly more) as England then, despite a far less generous LTT (equivalent of stamp duty) holiday? 

People trying to get out of London/Urban England before the next pandemic? 

Crashy_Time

SpiderLegs said:

Crashy_Time said:

mcpitman said:

Doubt it, unless this Lockdown tightens and stops the housing market.
Banks and housing are too much of a piece of the economy to stop for any longer than absolutely necessary.

That is why they have to move it on to sellers if they want FTB`ers to keep entering the bubble at the bottom, although I think they are going to put a full stop to the housing market soon because the way this virus is behaving (and the way people are behaving) has got the PTB very worried it looks like. People just need to chill and forget about moving house for a while TBH.

The majority of FTBers don’t pay stamp duty or only pay a relatively small amount. Those that do pay large amounts are not ‘scraping’, they are already loaded.
so your suggestion is complete rubbish as per.

When do you think the market will be locked down? A week? A month?
for how long?

come on crashy, you’re great at general speculation but not too hot when it comes to actual predictions.

Why did the government introduce the "holiday" in that case, why not just keep collecting the much needed revenue? 

SpiderLegs

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

mcpitman said:

Doubt it, unless this Lockdown tightens and stops the housing market.
Banks and housing are too much of a piece of the economy to stop for any longer than absolutely necessary.

That is why they have to move it on to sellers if they want FTB`ers to keep entering the bubble at the bottom, although I think they are going to put a full stop to the housing market soon because the way this virus is behaving (and the way people are behaving) has got the PTB very worried it looks like. People just need to chill and forget about moving house for a while TBH.

The majority of FTBers don’t pay stamp duty or only pay a relatively small amount. Those that do pay large amounts are not ‘scraping’, they are already loaded.
so your suggestion is complete rubbish as per.

When do you think the market will be locked down? A week? A month?
for how long?

come on crashy, you’re great at general speculation but not too hot when it comes to actual predictions.

Why did the government introduce the "holiday" in that case, why not just keep collecting the much needed revenue? 

You highlighted my point about FTB stamp duty and then responded with a comment about the holiday, which is a scheme available to all buyers.
honestly crashy you really should try engage brain before responding.

Getting_greyer

Unless they was a tax band that meant for each additional £1 sold you pay £1.01+ in tax, I can't see how a sellers sdlt wouldn't just increase prices. Interesting though, I shall do some math on this. 

Crashy_Time

SpiderLegs said:

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

mcpitman said:

Doubt it, unless this Lockdown tightens and stops the housing market.
Banks and housing are too much of a piece of the economy to stop for any longer than absolutely necessary.

That is why they have to move it on to sellers if they want FTB`ers to keep entering the bubble at the bottom, although I think they are going to put a full stop to the housing market soon because the way this virus is behaving (and the way people are behaving) has got the PTB very worried it looks like. People just need to chill and forget about moving house for a while TBH.

The majority of FTBers don’t pay stamp duty or only pay a relatively small amount. Those that do pay large amounts are not ‘scraping’, they are already loaded.
so your suggestion is complete rubbish as per.

When do you think the market will be locked down? A week? A month?
for how long?

come on crashy, you’re great at general speculation but not too hot when it comes to actual predictions.

Why did the government introduce the "holiday" in that case, why not just keep collecting the much needed revenue? 

You highlighted my point about FTB stamp duty and then responded with a comment about the holiday, which is a scheme available to all buyers.
honestly crashy you really should try engage brain before responding.

FTB`ers hardly pay, the rest are "loaded" (according to you) so why introduce it?

Crashy_Time

Getting_greyer said:

Unless they was a tax band that meant for each additional £1 sold you pay £1.01+ in tax, I can't see how a sellers sdlt wouldn't just increase prices. Interesting though, I shall do some math on this. 

Prices are not really set by how much a buyer has to pay out in tax though are they? They can Kite Fly and try it on but it is the prevailing lending culture and general economy that really dictate prices.

Getting_greyer

Crashy_Time said:

Getting_greyer said:

Unless they was a tax band that meant for each additional £1 sold you pay £1.01+ in tax, I can't see how a sellers sdlt wouldn't just increase prices. Interesting though, I shall do some math on this. 

Prices are not really set by how much a buyer has to pay out in tax though are they? They can Kite Fly and try it on but it is the prevailing lending culture and general economy that really dictate prices.

Hmm, no they're not. But there's definitely some algebra to look at here.

grumiofoundation

On the 15th Jan  the 'mad spike' was due to stamp duty savings.
Today the stamp duty savings are irrelevant? 

Which is it? Did something change over the weekend? 

Crashy_Time said:

Thrugelmir said:

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

The people trying to scrape their way onto the housing "ladder" do actually need it though, t hatis why there has been a mad spike in housing activity as people get suckered into thinking saving a few grand is worth overpaying tens of thousands for basic accommodation, it makes sense at the monthly payments level if they can just get in the door, alas that is how a lot of people have been brainwashed to think!

Crashy_Time said:

Getting_greyer said:

Unless they was a tax band that meant for each additional £1 sold you pay £1.01+ in tax, I can't see how a sellers sdlt wouldn't just increase prices. Interesting though, I shall do some math on this. 

Prices are not really set by how much a buyer has to pay out in tax though are they? They can Kite Fly and try it on but it is the prevailing lending culture and general economy that really dictate prices.