By Monidipa Fouzder2021-03-03T11:14:00+00:00
Rishi Sunak today announced that the stamp duty land tax holiday will be extended by another three months as part of measures to turn generation rent into generation buy .
Delivering his Budget statement in the commons this lunchtime, the chancellor of the exchequer said the stamp duty holiday will now end on 30 June instead of 31 March. To smooth the transition back to normal , the nil rate band will be £250,000 - double its standard level - until the end of September. The government will return to the usual level of £125,000 from 1 October.
Even with the stamp duty cut, Sunak said the cost of a deposit remained a significant barrier to people getting on the housing ladder.