Stamp duty cut triggers bidding wars and rise in first-time buyers – The Times

The chancellors cut to stamp duty has prompted a surge in the number of homebuyers, leading to bidding wars and the number of homes being sold over the asking price reaching record levels.
Rishi Sunak raised the threshold for paying the tax from £125,000 to £500,000 for those buying homes in England and Northern Ireland from July 8 to March 31 next year, saving buyers up to £15,000 per property.
In Scotland the threshold for paying land and buildings transaction tax was raised from £145,000 to…

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