With few options available to our government for incentives - Now is the perfect time to re-visit, that old chestnut, stamp duty!
With genuine reasons for believing that, now more than ever, we have a chance to tempt thousands of heavily saving, rent paying, sitting on the fence purchasers back to property. If the stamp duty was reduced drastically, it could encourage an increase in levels of activity and the multiplier would benefit our economy. Consider that rents will increase while interest rates do too. What a great time to strike a deal just before any stamp duty rate reduction is announced? Will potential purchasers look back at these days and wish they had purchased? I guess we'll have to wait and see.
We need a healthy property market to help bring us out of this recession. Let's hope in early December our government will incentivise as well as cut and tax. Here's to the carrot rather than the stick and 1% stamp duty in December..
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