The abolition of stamp duty for first-time buyers is showing no sign of reinvigorating the housing market, surveyors have said.
Almost nine in ten members of the Royal Institution of Chartered Surveyors reported no increase in first-time buyer inquiries in December, despite the chancellor removing the tax for new buyers on homes worth up to £300,000.
The policy was the centrepiece of the budget in November and was the government’s big policy initiative to help young people on to the housing ladder and “revive the home-owning dream in Britain”, according to Philip Hammond.
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