View more on these topics

PBR: Darling not extending stamp duty holiday

Chancellor Alistair Darling has not extended the stamp duty holiday due to end on December 31.

Speaking during his pre-Budget report today, Darling failed to mention an extension of the stamp duty holiday, which is set to return to £125,000 next year.

When it ends on December 31 Darling said the holiday will have helped 240,000 home buyers.

However, director, Rosemary Rogers says the Chancellor’s decision could stagnate the housing market.

Rogers says: “With no incentive to buy and the difficulties in securing mortgage finance, the end of this holiday could well see the housing market stagnate in the new year.

“New measures must be introduced to help the lower end of the market and keep people moving, without first-time buyers, who are the lifeblood of the market, the small recovery that has been made to date will simply be wiped out. “

Mortgages for Business managing director David Whittaker says the end of the stamp duty holiday comes as no surprise, and adds: “The fact of the matter is that the stamp duty holiday didn’t actually do a great deal to support the market.

“Cash rich investors and those lucky enough to have large deposits have been propping up the market for much of the last six months.”


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

  1. I honestly believe that the stamp duty holiday did support the market, I have been in Estate Agency for a number of years including the 1989 crash. Had we not had this holiday the market would have gone the same way, we are getting numerous reports that the market is increasing and I believe that this is due to the stamp duty

  2. As a mortgage consultant in an otherwise very difficult market, the stamp duty holiday did increase the number of first time buyers that were seen, and also attracted people to the market to sell their properties in this price range. To go back to £125,000 will do nothing to help the current situation.The least the govt could have considered was raising it to say £150,000.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm