Crest Welcomes Budget Boost For Property Sector
24 March 2010
Alistair Darling’s announcement to remove stamp duty land tax (SDLT) for most first time home buyers for two years until 25 March 2012 should be welcomed as it may have longer term economic benefits.
That’s the view according to Vicky Dudbridge from selling agent King Sturge at Crest Nicholson’s Harbourside development in Bristol who says that the increase in the nil-rate band of SDLT to £250,000 for first time buyers will help get the property market moving again.
In addition Vicky believes that with the prospect that interest rates are likely to stay low for a long time and that the banks are being encouraged to increase lending to home buyers makes for quite a favourable climate for a recovery in the residential property market.
Vicky said: “This news has to be welcomed. Over the coming months we will be releasing properties that will fall well within this price bracket and makes them even more affordable for prospective buyers.
“We have to acknowledge the importance of the residential property sector to the economy as a whole and there is no doubt that a recovery in the property sector would help with a wider economic recovery.”
For further information on current availability and forthcoming releases please call 0117 908 8888 or visit http://www.harbourside.co.uk .
Alternatively please visit the marketing suite on Cathedral Walk which is open daily from 10am to 5pm.