The property market continues to show signs of progress as figures from UK Finance show 2017 saw the highest number of first time buyers since 2006. Emma Gilliland, Residential Conveyancer, here reviews the figures and explains why this is good news for the housing market as a whole.
The cost of Stamp Duty Land Tax (SDLT) is being held responsible by many in the property sector as to why there may be hesitation when it comes to purchasing a property, particularly for first time buyers and those looking to downsize following retirement. Emma Gilliland, Residential Conveyancer, reviews here why there are proposals for this to be reduced in the future and brought more in line with current market activity, and why it causes a barrier to the housing market.
Buying a second home or investing in a “buy to let property” is about to become more expensive. This shift is part of the governments’ aim to make it easier for first-time buyers to get onto the property ladder.