Will the stamp duty reduction benefit you?

At the end of September, the new UK chancellor Kwasi Kwarteng announced that stamp duty would be cut, potentially helping up to 200,000 home buyers avoid paying the tax each year. In his mini-budget, he revealed that the nil-rate band would double from £125,000 to £250,000 and first-time buyers will now pay no stamp duty on properties costing up to £425,000.

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One-third of Brits ‘planning to move in 2023’

There’s no doubt that the last couple of years have been busy in the removals business, and it looks as though 2023 could be busy too. Two-thirds of those planning to move are looking for a garden over a parking space, while 49 per cent would prefer a home near a park or green space, compared to 43 per cent who are looking for a home near public transport.

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Top tips for downsizing

For many whose children have grown up and flown the nest, downsizing is an obvious choice. It means less maintenance and no danger of being lumbered with a large property that you and your partner are struggling to take care of as you get older. It might also present an opportunity for you to move to a different part of the South West, if you fancy a change of scenery as well as owning a smaller property.

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