Stamp Duty.

Many people over the last couple of weeks have asked us what's happening with regards to Stamp Duty, since reports have appeared in the press that speculate that it will be changed. This the story as we undestand it:

On August 5th, a headline appeared in a daily tabloid that the Prime Minister was going to scrap stamp duty. When asked, the Chancellor simply said that several options were under consideration to help the housing market, and no decisions had been taken. Caroline Flint, the Housing Minister said : "There is no decision on it, we are taking a long look at a number of different options but is about making the right decision and not being bumped into making a decision before the Pre-Budget Report."

So thats all right then. Pefectly clear.

Incidentally, the same newspaper report said:- A HALT in housebuilding amid the credit crunch could fuel a 30 per cent rise in property prices between late 2009 and 2012 as demand for homes outstrips supply, says the Centre for Economic and Business Research.