Stamp Duty will be scrapped immediately for first-time buyers of homes below £300,000. in London and other property hotspots, stamp duty would be axed on the first £300,000 of a purchase price up to £500,000 – a cut of up to £5,000.
The big developers have been accused of exercising an iron grip on the pace of housebuilding, with no commercial incentive to build faster unless prices are on the rise.
The proportion of young homeowners had plunged from 59 percent of young people to just 38 percent over 13 years.