People buying homes in parts of Battersea and Roehampton could save up to £1,500 on the purchase price because of a relaxation of stamp duty rules.

Properties priced between £60,000 and £150,000 in Latchmere and Roehampton wards will no longer have the normal one per cent duty on them.

The relaxation is good news for first time buyers and will provide some relief in the shortage of affordable homes in the borough.

The move was announced in Gordon Brown's pre-Budget speech and affects the country's 2,000 poorest council wards.

A source of relatively inexpensive housing in the two areas is ex-council properties which have been put on the market.

Roehampton has the 3,000-home Alton Estate and Battersea the 1,000-home Doddington Estate.

Despite rising property values, many homes can still be bought for below £150,000 on the borough's council estates.

Housing chairman Councillor Carol Humphries said former council homes are a popular choice for many people.

She added: "More than 22,000 local people have bought their home from the council.

"When they come to sell these properties they can, in many cases, create further opportunities for a new generation of first time buyers.

"Wandsworth is unique in having such a healthy supply of former council homes. These form a key ingredient in the council's affordable homes strategy."

People looking for somewhere to live in the borough are also set to benefit from a record surge in the development of new houses more than 800 homes are due to be built over the next 18 months.

Most of these properties will be sold on assisted purchase arrangements to first time buyers nominated by the council, while the remainder will be available to rent.

December 5, 2001 17:00