Chancellor Rishi Sunak has removed stamp duty on property transactions up to £500,000 in England and Ireland.
The increased threshold for stamp duty relief will apply immediately and run until 31 March 2021.
Previously, stamp duty was paid on property transactions valued at £125,000.
During his ‘mini’ budget speech today, Sunak said uncertainty abounded in the property market, “a market we need to be thriving.”
