Darling announced in his pre-Budget report in December that the stamp duty holiday, which increased the threshold at which buyers paid stamp duty stamp from £125,000 to £175,000 between September 2008 and December 2009, would not be extended beyond the end of last year.
However, the BBC is reporting this morning that Darling may push back the threshold, meaning a first-time buyers would not have to pay stamp duty on house purchases up to £250,000.
The stamp duty holiday has been credited with stimulating the housing market and advisers have been calling on Darling to raise the threshold permanently.
Earlier this week in Money Marketing’s Budget hopes and fears, Churchill Investments director Chris Gilchrist said: “The stamp duty holiday for the first-time buyers obviously did work so let’s get rid of it completely. I think then we would definitely see a good effect on the first-time buyer property market.”
Clayden Associates Ltd director Daniel Clayden said: “I think what they did with regard to the stamp duty having the higher threshold was a success and I think if they introduce something like that again it would be good news for first time buyers which would obviously help to stimulate the property market.”