There has been a mixed response to the government’s budget announcement regarding changes for first time buyers.
Phillip Hammond announced on Wednesday last week that stamp duty would be scrapped immediately for first time buyers purchasing up to £300,000.
This has been heralded by many as good news that will help young people get on the property ladder.
However, some have pointed out that stamp duty is a drop in the ocean compared to the ongoing cost of buying and owning a property. Others have pointed out that more buyers entering the market may push up prices and actually make property more expensive for all including those buying for the first time.
It will be interesting to see over the next few weeks and in to 2018 how this measure helps first time buyers and to what extent they find it easier to buy.