The ‘mini-boom’ in house sales prompted by the chancellors stamp duty cut might not be all it is cracked up to be.
The change has had an almost immediate impact, according to data agency Twentici, with the weekly number of sales rising 58% higher than the weekly average for the same month last year.
Winkworth(£) has said it has resulted in a significant uplift in business.
However, critics have said this will not last. First-time buyers, exempt from the tax on purchases up to £300,000, have lost their competitive advantage as evidence shows the change supporting higher end buyers and buy-to-let investors.