The new Chancellor announced an increase in Stamp Duty Land Tax (SDLT) thresholds, doubling the nil rate band and increasing the relief for first time buyers.
Our own analysis reveals the biggest beneficiaries of the stamp duty changes are likely to be first time buyers in London and the more expensive parts of South East England, where the savings on offer will make their deposit requirements look a little less daunting. However, given a combination of recent house price growth and increases in interest rate raises this is not going to magically result in a surge of first time buyer home buying activity.