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Stamp duty changes encouraging Guildford buyers to start search for first home

12th February 2018 Print
Trinity Quarter in Guildford

The decision to give first-time buyers reduced rates of stamp duty by Chancellor Philip Hammond has already had an impact on the housing market in Guildford, according to Bellway South London.

The housebuilder, which is building new homes at Trinity Quarter, off Walnut Tree Close, has said that it has seen an increase in first-time buyers visiting the development after the announcement was made in the government’s autumn budget, and expected the amount to increase again in the new year.

The government announced that first-time buyers purchasing a property under £300,000 would be exempt from paying stamp duty.

Research by Nationwide suggests that 35 per cent of first-time buyers in the South East will now pay stamp duty on their first home compared to 98 per cent before the changes took effect. The same research also states that the average amount of stamp duty payable for first-time buyers in the region will now be £2,166 compared to £5,166 previously, a saving of £3000.

Managing Director for Bellway South London, Nathan Stevenson, said the changes would undoubtedly make it easier for people to take their first steps on the property ladder.

He said: “The changes to stamp duty which were announced in the autumn budget are undoubtedly a positive for first-time buyers, and we’ve already seen the effects at our developments in the region.

“Purchasing a first home is an expensive experience and removing stamp duty from the equation has given first-time buyers one less thing to save for. Many who were on the periphery of being able to afford a home are now stepping up their search more seriously and visiting our sites.

“Traditionally many people hold off on a decision to buy a home at this time of year, so they can give it their full attention once all of the festivities of Christmas and new year celebrations are out of the way. However we’ve seen people who are looking to beat price increases and get moving as soon as possible.

“We fully expect more first-time buyers to enter the market in the new year, and believe it could be the difference which makes many people decide to make the decision and purchase for the first time.”

Bellway is building a range of one and two-bedroom apartments at Trinity Quarter. For more information about homes available at the development, go to

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Trinity Quarter in Guildford