Stamp Duty holiday boosts DIY sales
Published: 20 May, 2010
LONDON: The stamp duty holiday which ran until March 2012 may have freed home buyers' funds for home improvements, according to a report from Ratedpeople.com
The stamp duty changes could enhance property sales during the crucial spring market. The rate was previously 1% on properties between £125,000 and £250,000 so house buyers could save as much as £2500 on tax.
Andrew Skipwith, founder and CEO of Ratedpeople.com, said: "The opportunity is there for more and more first time home owners to use money saved on the recent tax break as a home improvement fund. Whether they engage in the work themselves, or hire a professional, this could be a great home investment prospect for first time buyers, new to the world of owning their own property."