article_snippet.sent: In it together: Mr Miliband said the pledge to cut stamp duty to zero over the next three years would benefit nine out of ten people buying their first home .
article_snippet.sent: Mr Miliband said the pledge to cut stamp duty to zero over the next three years would benefit nine out of ten people buying their first home, could save up to £5,000 and would cost the Government £225million a year.
article_snippet.sent: Chancellor George Osborne dismissed Mr Miliband stamp duty pledge as a 'complete gimmick'.
article_snippet.sent: The average purchase price for a first time buyer outside London is £137,120, according to the Halifax.
article_snippet.sent: Following the new stamp duty reforms introduced by the Conservative coalition last December, the stamp duty charge for buyers at this level is just £242. '
article_snippet.sent: Jenny Luckitt, of campaign group Generation Rent, said: 'These policies to cut stamp duty do nothing for affordability. '
article_snippet.sent: Jenny Luckitt, of campaign group Generation Rent merely stimulate demand and drive house prices even further out of reach of ordinary first-time buyers. '
article_snippet.sent: Limiting this policy to the first two years of government is a gimmick that will only drive up prices as people scramble to buy before the 'holiday' is over.'
article_snippet.sent: David Orr, of the National Housing Federation, said: 'Slashing stamp duty could lead to even higher demand on homes for first-time buyers, pushing up prices even further out of reach, while not addressing the supply of homes we so desperately need.'