Young people dreaming of living in the centre of London are unlikely to benefit from the changes to the stamp duty rules announced in November's Budget, according to analysis by HouseSimple.com.
In London's travel zones 1 and 2, there are currently just 387 properties for sale at £300,000 or less, meaning very few first-time buyers seeking to live in the heart of London will get to pay no stamp duty at all. In November's Budget, Chancellor Philip Hammond abolished stamp duty for first-time buyers on properties worth up to £300,000, and on the first £300,000 on properties worth up to £500,000 in higher-value areas, such as London. Looking to zone 3, there are 1,235 stamp-duty exempt properties. The Royal Borough of Kensington and Chelsea has the fewest properties valued under ...
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