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."

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