Jenny Willott, the Liberal Democrat MP for Cardiff Central has said that research carried out by the Liberal Democrats shows that under new Coalition Government reforms home buyers in Cardiff will pay £701 less in Stamp Duty.
The new system, announced at the Autumn Statement, is based on a long-standing Liberal Democrat policy and will significantly reduce the cost of moving house.
People buying homes worth less than £935,000 will now pay less Stamp Duty than they did before, while those buying the most expensive properties will pay more.
For the average buyer in Cardiff the tax will fall from £1,799 to £1,097 and means that families buying a home costing £179,860 the local average, will save £701.
Commenting, Jenny Willott MP, said:
“Stamp Duty has often been an extra cost which has stopped many people from buying a house. This new system will help first-time buyers and those young families who desperately want to get onto the property ladder.
“It’s fair, it’s sensible, and it has been a long-standing Liberal Democrat policy. We have now delivered on it in Government and this change will help many individuals and families in Cardiff to afford a home of their own.”