Autumn Statement

17th November 2022
Home > News > Autumn Statement

Breaking News - Stamp Duty

Chancellor Jeremy Hunt has confirmed that Stamp Duty cuts will remain in place until March 2025.

Expectations are that the housing market will slow so this incentive is remaining in place for now to support the housing market and protect jobs by keeping the market moving and benefiting the economy.

HM Treasury tweeted:  "This is to help the jobs & firms that rely on the housing market through the current challenges, while strengthening the public finances in the longer term."

The threshold increased from £125,000 to £250,000 with the first time buyer threshold increasing from £300,000 to £425,000.

This reduces the likelihood of a property market crash and helps to stabilise the price of houses at the same time as the mortgage interest rates become more stable and start to level out.


Share this article
  • icon
  • icon

Related News Articles

Halifax Release House Price Predictions

As we all start to get back into a routine and the New Year Resolutions still fresh with Veganuary, Dry January and a commitment to eat better and exercise more as well as be kinder, happier, more positive, the news is full of house price predictions (as well as Meghan and Harry!). Halifax have released their latest House Price Index showing that annual growth has slowed t...

07/01/2023
Rents Still Going From Strength To Strength

The market for rental properties is continuing to grow and monthly rent on newly let properties is still increasing on average. Across the country rents rose by 11% year on year in April and since we went into lockdown, rents have increased by 25% with strongest growth, unsurprisingly, in London. With rents on the open market rising quickly, tenants will face the choice of st...

23/05/2023
Housing Market Returning To Normal

As the echoes from the turbulence of the chaos caused by the mini budget of last September are starting to fade, we are noticing that the market is now finding its balance.The mini budget of 23 September 2022 that heralded £45bn of unfunded tax cuts threw the markets into turmoil, saw the value of the pound plummet and the cost of borrowing and mortgage interest rates soa...

04/05/2023
📢 UK House Prices on the Rise! 🏡📈

 💡 What’s Happening?✅ The housing market remains strong despite affordability challenges.✅ First-time buyers are making a comeback, with mortgage completions nearly back to pre-pandemic levels.✅ Buy-to-let purchases are increasing, but still lower than in previous years.✅ Upcoming stamp duty changes in April could impact the market in the sho...

01/03/2025