STAMP DUTY COLLECTED IN KENT HITS £8.6 MILLION

BARRET-HOMESThe Government has released figures revealing for the first time the amount of stamp duty collected in 2014/15 across the country.

Across the United Kingdom £10.7billion was collected over the year, a new record and up from £9.27bn in 2013/4. In December last year, Ministers announced changes to stamp duty which means most people now pay less however as more homes have been bought and sold in the strong housing market the amount collected was still higher.

In Kent, the stamp duty collected over the year was £8.6 million up from £7.2 million in 2013/14 and local house builder Barratt Kent has welcomed the statistics as evidence of the strength of the housing market.

Gary-Ennis-BARRETGary Ennis, southern regional managing director for Barratt Developments said: “While positive changes to stamp duty mean that across our region our customers are saving on average more than £3,000, the increase in the total amount collected by government indicates how strong the housing market is in Kent.”

Mr Ennis added: “Thanks to the reduction of stamp duty costs, together with the Help to Buy scheme, the upfront costs of buying a new home are lower now than they have been for many years. This is helping make home ownership a much more affordable reality for many first time buyers throughout Kent, as well as providing a major boost for those looking to move up the ladder and into a bigger family home.”

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