Stamp duty benefit for first-time buyers "overestimated"
A property expert has claimed that the effect of the stamp duty holiday for first-time buyers has been "overestimated".
The tax relief was introduced by chancellor Alistair Darling during last month's Budget and applies to properties under £250,000.
According to Paul Holmes, chief executive of FirstRung, the measure may not have had the impact people would like to believe.
Furthermore, he stressed that the government should not interfere with any initiatives and should let the housing market look after itself.
The latest research from Nationwide Building Society revealed a one per cent increase in average house prices across the UK in April.
Suggestions that the benefit of the stamp duty holiday have been overestimated may encourage more people to consider looking for property to rent in the London borough Hammersmith and Fulham or elsewhere in the country.
By Ben Carter
Published 30th April, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
More people may be encouraged to consider looking for property to rent in the London borough of Hammersmith and Fulham or elsewhere in the UK after a property expert suggested that the effect of the stamp duty holiday was "overestimated".