Stamp duty cut for first-time buyers will push up prices, warns OBR
(The Guardian Money News)

Budget more than doubles tax threshold to £300,000, effectively exempting 80% of all new buyers One of the main measures of the chancellor´s battle to help young buyers into the housing market could backfire by pushing up prices, benefiting those who already homes, the independent Office for Budget Responsibility has warned.Philip Hammond announced an immediate cut in stamp duty for first-time buyers spending up to £500,000 on a home. Under the change, first-time buyers spending up to £300,000 on a property will pay no tax, while those spending up to half-a-million pounds will only pay duty on £200,000 of the price. Continue reading...