Out of several thousand hits to the law firm’s website, 69% said the reduction in stamp duty would bring more first-time buyers onto the property ladder, while 31% disagreed.
Chancellor Gordon Brown doubled the stamp duty threshold to £120,000 in his ninth budget in a bid to reduce the costs for people looking to buy their first home.
Joe Whelan, Barnetts chief executive, was not surprised by the survey results, although he believes many first-time buyers will miss out on the benefits of the stamp duty changes.
He said: “Gordon Brown’s reduction in stamp duty was a welcome move to everyone in the industry and especially to first time buyers who have been struggling to get their foot on the property ladder.
“It’s a step in the right direction, although more needs to be done because in the current market where the average house price is around £180,000 it will still be very difficult for first-time buyers to find a property which falls below the stamp duty threshold.”
The survey is the second in a series of online surveys, which Barnetts launched earlier this year.
