Stamp duty holiday won't help St Albans' housing market
2nd September 2008
Anne Main has reacted to today's announcement by the Government that Stamp Duty will be suspended on homes under £175,000.
Anne Main, MP for St Albans, has reacted to today's announcement by the Government that Stamp Duty will be suspended on homes under £175,000.
Anne said:
"This modest announcement will not help St Albans' housing market. With even the average price for flats in St Albans currently at £228,853, it is patently obvious that very few of my constituents will benefit.
If the Government wanted to see any effect with Stamp Duty on high house-price areas, the figure should have been significantly higher. George Osborne's proposal that anyone who buys their first home for under £250,000 should pay no Stamp Duty at all would have benefited 200,000 buyers a year, and had a real impact on first-time buyers in St Albans.
This lower figure will only be of significant benefit in Labour heartlands, whilst the jitters over the housing market have been significantly increased by the failed and costly HIPs and dithering over Stamp Duty reductions. It seems as if this Chancellor has failed to understand the real situation.""
