Home buyers in Swansea will pay £976 less in Stamp Duty as a result of reforms in the Autumn Statement, insisted upon by the Liberal Democrats in Westminster..
Changes to Stamp Duty are 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 Swansea the tax will fall from £1524 to £547.
It means families buying a home costing £152,343, which ist he local average, will save £976.
Commenting, the Welsh Liberal Democrats Assembly Member for South Wales West, Peter Black said:
“Stamp Duty has often been a prohibitive extra cost which has discouraged many people from buying a house they can call their own.
“This reform will help first-time buyers and those young families who desperately want to get their feet on the first rung of the property ladder.
“It’s fair, it’s sensible, and it has been a long-standing Liberal Democrat policy - one we have now delivered in Government.
“This change will help everyday families and individuals realise the simple aspirational dream of owning a home.”