Now that the dust's settling... it's a strange collection of measures, isn't it? The Stamp Duty suspension's been getting all the coverage, but it's virtually meaningless, and particularly for the south east of England. A maximum of £1,750 barely covers the cost of the paperwork on many of the mortgages currently available. Expect a flurry of activity in August 2009. Also expect a flurry of gazundering on properties in the £175,000 to £200,000 region, right away. Despite the headlines, this was really about the Government doing something, no matter how meaningless, in order to quell rumours of a more significant tax break that have been circulating and killing sales ever since they irresponsibly allowed the story to circulate earlier in the summer. Meanwhile, I can't see any circumstance in which Home Buy Direct isn't an encouragement to risk negative equity.

Stamp duty axed below £175,000
How the Govt intent do save the property market, their skin

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