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Simon Brown, partner at Galbraith, said:
Raising the starting threshold for LBTT is a welcome move from the Scottish Government. Whilst we would have liked to have seen changes at every level of LBTT, we hope by increasing sales in this segment of the market that a catalyst can be provided to transactions even beyond the £250,000 mark. It is vital that Scotland continues to benefit from a healthy property market at the top end and it will be important to monitor activity over future months to ensure we are not being left behind compared to south of the border.”
