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Mon, 27 May 2024

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BSA comments on the changes to Stamp Duty

Building Societies Association

1 min read Partner content

Commenting on the changes announced today, Paul Broadhead, Head of Mortgage & Housing Policy at the BSA, said:

"The changes to Stamp Duty announced by the Chancellor this morning (23 September 2022) will be welcome news for first-time buyers and those moving home, even though quarterly consumer research dating back to 20081 has never shown the tax to be a major barrier to home purchase.

"As these Stamp Duty changes are permanent, they will have less of a distortionary impact on the market than the short-term interventions we have seen in previous years. However, while they support demand, unless we see more action to support the supply of new housing the changes could just push up prices. We therefore need the detail, including timings, on the Chancellor’s plan to release unused Government land for house building and the promised reforms to planning. "

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Engineering a Better World

The Engineering a Better World podcast series from The House magazine and the IET is back for series two! New host Jonn Elledge discusses with parliamentarians and industry experts how technology and engineering can provide policy solutions to our changing world.

NEW SERIES - Listen now