{"id":21775,"date":"2018-10-30T09:48:42","date_gmt":"2018-10-30T09:48:42","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=21775"},"modified":"2018-10-30T09:48:42","modified_gmt":"2018-10-30T09:48:42","slug":"budget-2018-stamp-duty-boost-for-first-time-buyers","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/2018\/10\/30\/budget-2018-stamp-duty-boost-for-first-time-buyers\/","title":{"rendered":"Budget 2018: Stamp duty boost for first-time buyers announced"},"content":{"rendered":"

Stamp duty for first-time buyers\u00a0of shared ownership properties worth up to \u00a3500,000 will be abolished, it has been announced in the 2018 Budget.<\/strong><\/p>\n

The move follows the end of stamp duty for first-time buyers<\/a> on properties with a \u00a3300,000 ceiling in the 2017 Budget, when it was also\u00a0axed on the first \u00a3300,000 of a purchase price up to \u00a3500,000 to help first-time buyers in London. It was a move that helped see the highest levels<\/a> of mortgaged first-time buyers in a decade at the start of this year.<\/p>\n

“We will make this relief retrospective so any first time buyer who has made such a purchase since the last Budget will benefit,” announced Chancellor of the Exchequer Philip Hammond.<\/p>\n

He also pledged a further \u00a3500m<\/strong> for the Housing Infrastructure Fund to help with the construction of 650,000 new homes<\/strong>, taking the fund to \u00a35.5bn.<\/p>\n

Rejuvenating the high street was also on Mr. Hammond’s agenda, with \u00a3675m<\/strong> allocated to what he called a ‘Future High Streets Fund’.<\/p>\n

“We are consulting on simplification of the process for conversion of commercial property into new homes,” Mr Hammond added.<\/p><\/blockquote>\n

It was also announced that, from April 2020, lettings relief would be limited to properties where the owner is in shared occupancy with the tenant.<\/p>\n

Measures to improve transport and infrastructure were also a feature of the Budget, the first to be delivered on a Monday since 1962. An extra \u00a337m<\/strong> has been allocated to improve the trans Pennine rail route connecting Liverpool, Manchester, Leeds and the north-east, while \u00a3420m<\/strong> has been pledged to tackle potholes and other small-scale road repairs.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Stamp duty for first-time buyers\u00a0of shared ownership properties worth up to \u00a3500,000 will be abolished, it has been announced in the 2018 Budget. The move follows the end of stamp duty for first-time buyers on properties with a \u00a3300,000 ceiling in the 2017 Budget, when it was also\u00a0axed on the first \u00a3300,000 of a purchase… Read more »<\/a><\/p>\n","protected":false},"author":3875,"featured_media":4621,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26,59,6],"tags":[361,341,85],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/21775"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/3875"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=21775"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/21775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/4621"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=21775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=21775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=21775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}