Stamp duty cut fuels surge of interest in London commuter belt

The £3.8bn stamp duty giveaway unveiled by chancellor Rishi Sunak last week has already sparked a mini property boom in the southern England commuter belt, according to the UK’s biggest property website, Rightmove.

The only thing stamp duty cut is doing is give a lovely big bonus to second home owners and buy to let investors, whilst majority continue to struggle to get on first step of property ladder due these greedy sods. We need to heavily tax second homes not make them more attractive.

This won’t do anything to help the rest of the country out, looks like it’s an opportunity to give a tax cut to the rich again... who the fook can afford London anyway!

How does stoking house price inflation help anyone in the long run, apart from the asset owning wealthy? Housing costs are already a huge financial drag for millions of renters and young people. Encouraging asset price inflation makes things even worse for them.

See, this will do nothing to 'grow' the economy or LEVELUP , instead, people who can already afford houses will fuel house price inflation in the London commuter belt. Thos buying expensive houses will gain the most whilst first-time buyers further North will gain little.

More second homes and investment for the rich then high rents for average joes. Raise salaries and minimum wage. This stamp duty exception shouldn’t apply for investment properties or non residential dwellings.

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