My Property Box

Ben Quaintrell, the founder and managing director of Darlington-headquartered estate agency group, My Property Box, said: “I welcome the Chancellor’s measures to cut stamp duty that will support more people and families across the North East and North Yorkshire to own their own home.

“Currently there is no stamp duty to pay on the first £125,000 of a property’s value, a band that has now risen to £250,000 – which will benefit many, many more homebuyers.

“In addition, he has increased the stamp duty threshold for first time buyers from £300,000 to £425,000, which won’t affect the majority of people in the North East, where the average house price is around £170,000, but it will still act as a stimulant to the economy.”