Families buying homes in Stockport will pay on average £607 less in Stamp Duty, according to local MP Mark Hunter following reforms brought in by the Government.
The new system announced at the Autumn Statement will significantly reduce the cost of moving house.
People buying homes worth less than £935,000 will now pay less Stamp Duty than they did before, while those buying the most expensive properties will pay more.
For the average buyer in Stockport the tax will fall from £1,893 to £1,286. This means families buying a home costing £190,000, the local average, will save £607.
Local MP, Mark Hunter said:
“Stamp Duty has often been a prohibitive extra cost which has discouraged many people from buying a house they can call their own.
“This reform will help first-time buyers and those young families who desperately want to get their feet on the first rung of the property ladder.
“It’s fair, it’s sensible, and it has been a long-standing Liberal Democrat policy – one we have now delivered in Government.
“This change will help everyday families and individuals realise the simple aspirational dream of owning a home.”
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