Weston Homes welcomes stamp duty relief for first time buyers

Following the Government’s latest budget announcement abolishing stamp duty for first time buyers on home purchases below £250,000, home-counties developer Weston Homes has welcomed the decision and believes this could help kick-start the property market.

Bob Weston, Chairman and Chief Executive of Weston Homes comments: “We are delighted by the announcement which is a big step forward in helping stimulate the UK housing market. First time buyers are crucial to the recovery and ongoing strength of the property market, so it is very encouraging to see that this has been recognised.

“Weston Homes has always provided ideal homes for first time buyers at realistic and affordable prices and increasing the stamp duty threshold will offer an even wider choice of homes to this important group of buyers. High specification two-bedroom apartments at our developments such as New Mercia in Hitchin, The Meads in Hertford and at our latest development Mayesbrook Manor in Barking are now more affordable falling within the new stamp duty limit.

“There is definitely no quick-fix to the current UK housing market situation, however this is a positive move in the right direction. I believe there still needs to be a much wider availability of credit and if lending were to increase then we would begin to see real progress its recovery.”