However this continuation of the relief scheme is unlikely to be enough to encourage first time buyers to purchase in the coming years. In addition buyers might put buying intensions on hold due to the minister reaffirmed a commitment to introducing a property tax at a future point in time but did not specify when that would be. With the property tax potential buyers could be reluctant to purchase and pay stamp duty now given that stamp duty will likely be eradicated or substantially reduced upon introduction of the tax.
Have your say
- Would buyers remain reluctant to purchase and pay stamp duty now given that stamp duty will likely be eradicated or reduced as a property tax is introduced?
- Or would the continuation of the relief scheme be enough to encourage first time buyers to purchase?
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