12
Mar
Government has 'failed homeowners'
In response to the chancellor's Budget announcement, the National
Association of Estate Agents (NAEA) claimed he has "failed"
homeowners.
Alastair Darling revealed that people in shared properties will be
exempt from stamp duty charges until they own 80 per cent of the
home, but did not impose changes to rules for those in other
situations.
This led chief executive at the NAEA Peter Bolton King to claim the
duty is "taxation gone mad" and that first-time buyers are being
stretched enough.
He commented: "This was an opportunity for the chancellor to give
the housing market the boost it really needs to keep the market
moving but he has failed the British homeowner again."
Mr Bolton King also cited research from Halifax that said revenue
generated from stamp duty in the last five years stood at £6.4
billion in 2006-07.
Stamp duty currently has to be paid on homes with a value of
£125,000 or more.