It has been reported by BBC News(02/09/08) that, for the next year, property owners will no longer have to pay Stamp Duty on their homes, if they purchased them for less than £175,000.

This will be a raise of £50,000 from the present threshold. This measure is a part of the governments aim to improve the housing market, in the time of the credit crunch.

If a home owner buys their property for £175,000, it will give you a saving of £1750. This looks set to cost the treasury six hundred million pounds. It is generally believed that fifty per cent of homes purchased will not be required to have stamp duty paid on it. An increase of over thirty per cent.