Stamp Duty holiday due to expire for buyers in Basingstoke

When Alistair Darling announced a stamp duty holiday for properties costing less than £175,000 last September, first time buyers throughout the country breathed a big sigh of relief. However with the holiday due to expire at the end of December, local housebuilder, David Wilson Southern is encouraging purchasers thinking about buying now in order to save up to £1,750.

Last year all purchasers were required to pay the stamp duty tax when buying a home that was worth more than £125,000. However, when the housing market went into decline, the Chancellor of the Exchequer last September announced a stamp duty holiday and extended the threshold to £175,000 until the end of 2009 in a bid to provide some much needed relief for those buying a smaller home.

Gerraint Oakley, Sales Director at David Wilson Southern comments “The stamp duty holiday came as a welcome break for first time buyers concerned with affordability issues during the current credit climate. Throughout the region we have witnessed hundreds of purchasers save themselves a substantial amount of money during this break and we have now started to see more people coming forward to make the most of the savings before the holiday is over.

“With the holiday due to expire at the end of the year, we’re encouraging purchasers who want to buy a property for less than £175,000, to act now in order to avoid paying the stamp duty tax. At our Spencer Place development in Basingstoke we still have several two bedroom properties remaining that fall into the extended stamp duty threshold.”

Spencer Place is a contemporary development which offers a range of apartments and two and three bedroom homes. Ideally located, the development is only a ten minute walk from Basingstoke train station and the M3 is easily accessed. Two bedroom apartments at Spencer Place start from £148,000. Furthermore for those looking to make further savings upfront, the apartments can be purchased through the developers HomeBuy Direct scheme, where homebuyers only need to pay 75 per cent of the price.

The two bedroom apartments which are still exempt from stamp duty until the end of the year are attractive and spacious homes which feature contemporary open plan living spaces.

Gerraint adds “But the process of purchasing a home on average takes a couple of months, so in order to make the stamp duty holiday savings purchasers need to act fast and buy now.”

For further details about making the most of the stamp duty holiday at Spencer Place or any of David Wilson Homes in the region, visit the website dwh.co.uk.