Budget 2018: What do the housing measures mean?

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More help for first-time buyers and plans to create more homes on the High Street have been announced in the Budget.
Most first-time buyers of shared ownership properties will now no longer pay stamp duty, under the measures unveiled.
Chancellor Philip Hammond said Britain's housing market needs to be fixed, adding it was key to boosting UK productivity and pushing up living standards.
The UK is facing a shortage of housing. The number of homes on the market is at a 10-year low and fewer people are taking out mortgages.
So what has the chancellor said he is going to do about it?

Was there any help for first-time buyers?

In last year's Autumn Budget, the chancellor abolished stamp duty - a tax you pay if you buy property or land - for first-time buyers buying a home worth up to £300,000.
It has so far helped 121,500 people, the chancellor said, and the number of first-time buyers is at an 11-year high.
Now, stamp duty will also be abolished for first-time buyers of shared ownership properties - when someone buys between 25% and 75% of a home and then rents the rest of it.
Source www.BBC.com

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