Government Announce They Will Deliver 300,000 New Homes a Year

By November 22, 2017

The government today have announced they will abolish stamp duty for first time buyers, in England and Wales, in their new budget. This will relate to the first £300,000 of a home’s cost, saving first-time buyers £5,000.

This will mean 95% of first-time buyers would see the tax cut, while 80% who are buying a property will pay no tax at all.

In addition, the chancellor Philip Hammond will use this budget to plan the build of 300,000 homes a year. This will concentrate on areas where most people live and where most jobs are created.

Plus, the aim is to guarantee councils in high-demand areas to permit more homes for local first-time buyers.

Hammond will also find £5 billion for housing schemes, according to the Sunday Times. Perfect for the industry!

 

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