Another big day for property in the UK as the Welsh Government follow England in the…
Another big day for property in the UK as the Welsh Government follow England in the abolishment of Stamp Duty for all properties priced £250,000 and under!
Finance Minister Rebecca Evans announced the change at the Welsh Governments daily coronavirus briefing on the 14th July 2020.
Ms Evan has also stated that “unlike England, this new threshold will not apply to the purchase of additional properties such as buy-to-lets or second homes”. Ms Evans made it clear that they are looking to support people looking to purchase their first home or those seeking to move up the property ladder.
With England abolishing Stamp Duty for all properties under £500,000 this was “very much a response” to the changes made in England and also means that Wales will now receive additional funding, some of which will be put back into the Welsh housing industry. We have been told that this will be continued until 31st March 2020.