Rightmove welcomes budgetary announcement of stamp-duty exemption
- Thursday, March 25, 2010, 11:56
- 2 comments
Alistair Darling yesterday announced a stamp-duty exemption for first-time buyers on properties less than £250,000.
Rightmove has a market coverage of 90% of all properties currently for sale in the UK, and has revealed that 70% of these properties currently fall below the £250,000 threshold. This is up from 25% of properties that fell below the £125,000 threshold in place under previous stamp-duty exemption.
The property website claims that this equates to savings of £608m for first time buyers on homes that are currently on the market.
Rightmove calculated that the increase of stamp duty to 5% on properties over £1m would affect only 2% of properties currently on the market.
However, Miles Shipside, commercial director at Rightmove added:
“While Rightmove welcomes the increase in the zero-percent band, in reality the key requirement for a continued recovery in house prices and sales volumes depends upon higher mortgage availability with smaller deposits.”
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2 Comments on “Rightmove welcomes budgetary announcement of stamp-duty exemption”
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This just shows why Rightmove are number one, and why every estate agent and letting agent needs to be with them. There brand is massive and introducing extras like this just shows how creative marketing can forward your company. Shame though for all the agencies as its not cheap to be on property portals and property portals also seem to be killing the private seller as its not possible for private sellers to use rightmove (good news for agents though).
this is a big help for an estate agent. great information..this is valuable