STAMP DUTY PUSHES FIRST TIME BUYERS OFF THE LADDER – BUT NOT IN NOTTINGHAM

25th January, 2017, by

STAMP DUTY PUSHES FIRST TIME BUYERS OFF THE LADDER – BUT NOT IN NOTTINGHAM

FOR THE first time, the national average price for first time properties has surpassed £200,000, meaning that first time buyers are now having to pay stamp duty on their new home – but Oliver Marshall, property consultant at FHP Living, is seeing a different story in Nottingham.

“Despite the stamp duty reform two years ago, across the UK first time buyers are still have to fork out additional costs on their properties,” said Oliver, who has 6 years’ experience at FHP Living’s city centre office.

“In Nottingham, however, the market is such that we’re able to give buyers more for their money. We have a wealth of properties in fantastic locations which give first time buyers the opportunity to purchase their dream home for under £200,000 – escaping the dreaded stamp duty.”

  • Broadway House – It’s possible for Nottingham’s first time buyers to purchase a characterful apartment right in the centre of town for under £100,000 – with this property being offered at £95,000. The Lace Market is an incredibly popular area, full of really beautiful buildings and this one bedroom flat has been sympathetically converted – with fabulous high ceilings and large windows overlooking the Nottingham’s bustling Stoney Street.

Link to the property here: http://www.fhpliving.co.uk/sales-properties/1-broadway-house/.

  • Teal Wharf – Castle Marina has become an increasingly popular area for first time buyers as the local amenities and proximity to the city centre have become increasingly more attractive. For £150,000, first time buyers would be able to purchase a two bedroom apartment including dual aspect windows leading onto a balcony, and designated parking.

Link to the property here: http://www.fhpliving.co.uk/sales-properties/24-teal-wharf/.

“Nottingham continues to be an area whereby property is a solid investment for any first time buyer. Nationally, we’re also able to offer those looking to get on to the property ladder the chance to buy their dream home whilst also avoiding paying stamp duty.

“The city is really on the up, with new bars, restaurants and shops opening all the time – it’s a really great time to put down roots and snap up the best the city has to offer in terms of property.

“In terms of sales, we’ve seen a real pick up recently and I would encourage any first time buyers looking to get their foot on the ladder to get in touch – Nottingham really is the place to be,” continued Oliver.