Stamp Duty Land Tax (2)

Meeting: 
MQT on 2017-12-14
Session date: 
December 14, 2017
Reference: 
2017/5090
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

The Office for Budget Responsibility expects the Government's relief of stamp duty land tax (SDLT) would benefit just 3,500 additional first-time buyer purchases, adding that the measure is expected to increase house prices. What is your estimate for the number of additional first time buyer purchases in London generated from this policy?

Answer

Answer for Stamp Duty Land Tax (2)

Answer for Stamp Duty Land Tax (2)

Answered By: 
The Mayor

The potential impact of this policy on additional first time purchases in London has not been estimated. Of the total 245,00 first time buyer purchases in the UK in 2016/2017, affected by this policy, GLA officers estimate 13% were in London.