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Stamp duty axed below £175,000 , will it make any difference?

Stamp duty axed below £175,000 , will it make any difference?

Old Sep 3rd 2008, 5:42 am
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Originally Posted by johnh009
I think you are correct, they have even admitted that the boom in the rental market may be short-lived due to an excess of rental properties on the market.

I suppose now, the question is, when is the best time to buy? Any takers?
Now is the best time and mine

Didn't make any difference last time won't this was it 1991 they did the same,
Halifax are still happy to give mortgages with no fee to first time buyers its the media that are scarring everyone
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Old Sep 3rd 2008, 6:50 am
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Originally Posted by Coffeepot
Now is the best time and mine

Didn't make any difference last time won't this was it 1991 they did the same,
Halifax are still happy to give mortgages with no fee to first time buyers its the media that are scarring everyone
Your last words are right in my opinion. The media are stirring their big wooden spoons.

The BBC were saying it was going to affect houses around the £200,000 mark because of the increase of stamp duty at £175,000.

I think it will make a difference, it will make a difference for sellers being forced to reduce their properties further. Which creates a knock on affect throughout the whole housing market.

Gordon Brown is an idiot! :curse:
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Old Sep 3rd 2008, 7:08 am
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Originally Posted by Cassie 10000
Gordon Brown is an idiot! :curse:
I think that's a given .
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Old Sep 3rd 2008, 7:19 am
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Originally Posted by MarkG
I think that's a given .
Thanks, Mark.

I could have used plenty of other words but I had to go along with idiot.

I need to keep my nice girl image



(Shut it Butch, just wanted to reply before he says anything).

Last edited by Cassie 10000; Sep 3rd 2008 at 7:21 am. Reason: Added a bit for Butch :)
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Old Sep 3rd 2008, 7:29 am
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Originally Posted by Cassie 10000
Your last words are right in my opinion. The media are stirring their big wooden spoons.

The BBC were saying it was going to affect houses around the £200,000 mark because of the increase of stamp duty at £175,000.

I think it will make a difference, it will make a difference for sellers being forced to reduce their properties further. Which creates a knock on affect throughout the whole housing market.

Gordon Brown is an idiot! :curse:
They all are

Originally Posted by MarkG
I think that's a given .
YEP



Originally Posted by Cassie 10000
Thanks, Mark.

I could have used plenty of other words but I had to go along with idiot.

I need to keep my nice girl image



(Shut it Butch, just wanted to reply before he says anything).
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Old Sep 3rd 2008, 8:40 am
  #21  
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Our flat will be going on the market for less than £175,000. I live in Aberdeen and the housing market isn't as badly affected here as it is in England (yet) Houses are definitely still selling and for just as much as they used to, they are however taking a bit longer to sell.

This does worry me though as our house isn't even on the market yet, will be in January, I wonder how the market will be then...
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Old Sep 3rd 2008, 12:51 pm
  #22  
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

The best time to buy is always when you find a house that suits your needs... Never buy just because the price is right...
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Old Sep 3rd 2008, 6:11 pm
  #23  
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

We're one of the 'lucky' people who are definitely going to be positively affected by this wonderful news, as our property is up for £154'950

Although Londoners and Southerners won't be advantaged in any way (I can't believe how overpriced housing is down there!!) in my area - which is the Midlands (NOT the North!) there are lots of houses for sale under £175k. In fact, first-time buyers in my county in particular (Northants) would never be able to afford £175k - even our house is aimed at 2nd time buyers as it's too pricey for those trying to get onto the property ladder!

I was reading our local paper tonight - it's property night - and they were saying how, in my area alone, there are more than 2'000 properties being marketed at less than £175k so there is no doubt that this news is being welcomed with open arms around here.

It is sad that not everyone will benefit though, and I do think the government should use this as the 'first step' to remedying the housing market, and not the entire solution, as has been insinuated.

Best of luck to everyone trying to sell anyway

PS - Bear in mind that summer is the worst time to sell, so hopefully things should look up now we're in Autumn and people are back from their holidays (hopefully wanting to get into their new property by Xmas).

Anita
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Old Sep 3rd 2008, 6:20 pm
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Originally Posted by seanyg
We're one of the 'lucky' people who are definitely going to be positively affected by this wonderful news, as our property is up for £154'950

Although Londoners and Southerners won't be advantaged in any way (I can't believe how overpriced housing is down there!!) in my area - which is the Midlands (NOT the North!) there are lots of houses for sale under £175k. In fact, first-time buyers in my county in particular (Northants) would never be able to afford £175k - even our house is aimed at 2nd time buyers as it's too pricey for those trying to get onto the property ladder!

I was reading our local paper tonight - it's property night - and they were saying how, in my area alone, there are more than 2'000 properties being marketed at less than £175k so there is no doubt that this news is being welcomed with open arms around here.

It is sad that not everyone will benefit though, and I do think the government should use this as the 'first step' to remedying the housing market, and not the entire solution, as has been insinuated.

Best of luck to everyone trying to sell anyway

PS - Bear in mind that summer is the worst time to sell, so hopefully things should look up now we're in Autumn and people are back from their holidays (hopefully wanting to get into their new property by Xmas).

Anita
Lets hope so Good luck with your sale too
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Old Sep 3rd 2008, 8:12 pm
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Can't see how cutting stamp duty will make any difference, Gordon Brown's clutching at straws.
Stamp duty was never a problem for anyone buying a house under the 3% bracket.
Most first-time buyers would have added the stamp duty to their mortgage anyway (£9 odds per month).the problem is first timers can't get a mortgage or 15-25% deposit or both, this won't make any difference at all.

Former estate agent with my house on the market for 4 months now at 30% below what my mortgage company valued it at in February.
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Old Sep 4th 2008, 11:11 pm
  #26  
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

:frown
Originally Posted by fuschiagirl
According to the "Government" half of all house sales are below £175,000

But who believes the "Government"????
Must admit I do not agree with this government but they are correct you can get a property now for under that amount, just do not know how they will get the mortgage though!!
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Old Sep 4th 2008, 11:15 pm
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

my house too will be for sale below this mark so I'm very happy.
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Old Sep 4th 2008, 11:25 pm
  #28  
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

Originally Posted by Coffeepot
Now is the best time and mine

Didn't make any difference last time won't this was it 1991 they did the same,
Halifax are still happy to give mortgages with no fee to first time buyers its the media that are scarring everyone
That's good to hear re the mortgage as so many of my friends children just cannot get on the ladder maybe they will have a chance now or should they hold on a little longer!!??
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Old Sep 5th 2008, 3:14 pm
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Default Re: Stamp duty axed below £175,000 , will it make any difference?

The sad and painful reality is that the market needs to lose the inflated value in order to re-start again
So the faster the houses drop down to a 3-4 times income ratio the faster it will start to grow again
It’s all a natural part of the boom bust cycle
You’ll see the market re-start as the demands for the government to put legislation in to stop gazundering ,
Just when they see value at a real price they’ll come in droves trying to force extra discount out of sellers by stalling at the last minute or dropping their offer just before closing
That’s not started happening yet so the decline is probably still on at least for a few months

So Gordon’s attempt to get house prices down isn’t so dumb. A small minority will lose just like last time but the market confidence and its affect on consumer spending is more important overall
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