cooke painter & shepstone news

Stamp duty axed below £175,000

Reuters of London have stated that the Exchequer said on Tuesday properties worth less than £175,000 would be exempt from stamp duty for one year from Sept 3, up from a £125,000 pound threshold now. The surprise move is part of a package of measures unveiled by Prime Minister Gordon Brown's government on Tuesday to try and boost the country's slumping housing market and revive the ruling Labour Party's flagging political fortunes. Data published on Monday showed approvals for new home loans fell in July for the 12th consecutive month and house prices have fallen at least 10 percent from a peak last year. If you are investor with spare cash, now may be a perfect opportunity to snap up a bargain!

http://news.bbc.co.uk/1/hi/uk_politics/7592852.stm