Stamp duty effects on house prices

[FocusRS3]

Im hoping this is the right place to post this, if not then feel free move pls Mods.

Given this weeks budget and changes to stamp duty do we think this will have a positive effect on the rest of the housing market 'curve'.

I'm thinking of properties of over the 1mln mark

[NickCQ]

No change to stamp over £1 mm AFAIK. Also not that many first time buyers in that market I would think.

[FocusRS3]

NickCQ said:

No change to stamp over £1 mm AFAIK. Also not that many first time buyers in that market I would think.

Yup that i understand just wondering if it'll get the WHOLE mkt going again

[Jockman]

IIRC the impact on House Prices of the recent Stamp Duty modifications is circa 0.3% uplift.

[supersport]

Genuine question, but why will house prices rise?

I can't actually see a couple of grand on £300K making that much difference in the first place though.

[FocusRS3]

Jockman said:

IIRC the impact on House Prices of the recent Stamp Duty modifications is circa 0.3% uplift.

Tks. Just be useful for things to get on the move again in the new year

[NickCQ]

FocusRS3 said:

Jockman said:

IIRC the impact on House Prices of the recent Stamp Duty modifications is circa 0.3% uplift.

Tks. Just be useful for things to get on the move again in the new year

Without wishing to bring up that debate, I can't see things picking up until there's a little clarity on whatever Brexit deal we are getting.

[FocusRS3]

NickCQ said:

Without wishing to bring up that debate, I can't see things picking up until there's a little clarity on whatever Brexit deal we are getting.

Yup can see the thinking behind this

[fido]

FocusRS3 said:

I'm thinking of properties of over the 1mln mark

Depends on the area I would have thought. 4 bed properties in my locale are >£1m (London Zone 4) so anyone moving up from a flat to a large house are still going to struggle even if their FTB saves a couple of grand. That's the problem in a nutshell - prices have gone way over the bands that were set 2 decades ago!