New homes agent in stamp duty call

The managing director of a company specialising in new homes has called for stamp duty to be axed for first-time buyers.

David Bexon of SmartNewHomes.com said: "I would like to see the government scrap stamp duty for first time buyers, assisting them in their first purchase while inviting renewed demand back into the market."

Earlier this week the managing director of the National Association of Estate Agents Peter Bolton King suggested that the government should give such buyers a stamp duty "holiday".

However, similar calls were made before the budget in March without any change being levied on the tax for most buyers.

A reason why the government may be unlikely to make changes to the duty was outlined in a report out this week by the Organisation for Economic Co-operation and Development, which said the level of public borrowing undertaken by the government gave it little room to make tax cuts in a slowing economy.

One way for those looking to get on the housing ladder to be sure of avoiding stamp duty is to use the self build method.