stamp duty

One-third of UK believe stamp duty cuts would be most effective solution to housing crisis

A reduction in stamp duty could be the solution to the current housing crisis, according to a recent study from Audley Group.

The research revealed that 33% of people in the UK believed a cut in stamp duty and more initiatives to assist first-time buyers were key factors in solving the housing shortage.

Participants aged 18-34 were more inclined to back policies which helped first-time buyers.

Meanwhile, 38% of those over 55 considered that more support for older homeowners who wanted to downsize their property was the most efficient route to unlock the housing crisis.

Opinions were also split between regions, with the North prioritising first-time buyers, while the South being more inclined towards stamp duty reduction and support for older homeowners.

Nick Sanderson, CEO at Audley Group, commented: “Reforms to stamp duty and incentives to support downsizing are not ground-breaking policies, but they have the potential to revolutionise the UK housing market.

“Yes, we must build more, but crucially these must be high quality properties which can adapt to people’s evolving needs.”

Leave a comment