What the new stamp duty cut means for homebuyers

House/flat for sale sign
The stamp duty cut changed the bands so fewer people will pay (Image credit: Getty Images)

A stamp duty cut has been announced as part of the government’s mini-budget that could make it easier for those trying to buy a house.

Chancellor Kwasi Kwarteng said the tax cut - a second reduction to the stamp duty tax in two years - will “get the housing market moving” and ensure that 200,000 homebuyers every year do not need to pay the tax.

Jack Woodfield
News Editor

Jack has worked in journalism for 11 years and was the News Editor for Homebuilding & Renovating from 2019 until the beginning of 2023. He strives to break the most relevant and beneficial stories for self builders, extenders and renovators, including the latest news on the construction materials shortage and hydrogen heating. In 2021 he appeared on BBC's The World at One to discuss the government's planning reforms. 

He enjoys testing new tools and gadgets, and having bought his first home in 2013, he has renovated every room and recently finished a garden renovation.