Thank you very much to my friend Paul Bristow over at Hammersmith and Fulham for drawing my attention to the government’s Land Registry Database.
Alasdair Darling’s announcement that first-time buyers are to be exempt from stamp duty on properties valued at less than £175,000 for the next twelve months will, Paul says, benefit only two families per month in Hammersmith and Fulham.
The effect on first-time buyers in Surrey, another area with extremely high house prices, will be similarly small.
Here’s why:

The average price for a flat or maisonette in the county is just a shade under £200,000. For a terraced house, the average price rises to exactly £250,000. The average cost of all property in the county stands at around £320,000 – £145,000 above the exempt level.
The majority of those buying flats and maisonettes, the most likely type of properties to fall under the £175,000 level, are either single or couples. The average cost of a two-bedroom house in Englefield Green – ideal, say, for a young couple who have just had their first child – is £283,723.
I’ll end by quoting Paul: “[the Chancellor's announcement] is pure window dressing and it will have zero impact in our neighbourhood”.
Shadow Chancellor George Osborne has already announced that an incoming Conservative government will raise the stamp duty threshold to £250,000.
Posted by cllrdanielhamilton
Posted by cllrdanielhamilton
Posted by cllrdanielhamilton 
