First Time Buyers figures for 2022 (FOI)
First Time Buyers figures for 2022 (FOI)Produced by the Freedom of Information office
Authored by Government of Jersey and published on 23 January 2023.
Prepared internally, no external costs.
Over the last five years, how many First Time Buyer properties have been purchased using the first time buyer tax benefit and then been resold within twelve months?
Whether or not a property is a designated First-Time Buyer property is not recorded when the property is transferred. The information provided below is therefore given in respect of purchases where the first-time buyers rate is charged.
The first-time buyers rate is available when paying either Stamp Duty or Land Transaction Tax.
The information requested is not held in respect of Stamp Duty. Article 3 of the Freedom of Information (Jersey) Law 2011 applies.
From April 2019 to December 2022, there were 372 purchasers who paid the first-time buyers rate when acquiring a property. Of these, 19 properties resold within 12 months.
Obtaining the requested information for the period prior to April 2019 would require a manual review of all files held, which it is estimated would exceed the cost limit provisions set out in the Freedom of Information (Costs) (Jersey) Regulations 2014. Therefore Article 16 of the Freedom of Information (Jersey) Law 2011 has been applied.
Article 3 - Meaning of "information held by a public authority"
For the purposes of this Law, information is held by a public authority if –
(a) it is held by the authority, otherwise than on behalf of another person; or
(b) it is held by another person on behalf of the authority.
Article 16 - A scheduled public authority may refuse to supply information if cost excessive
(1) A scheduled public authority that has been requested to supply information may refuse to supply the information if it estimates that the cost of doing so would exceed an amount determined in the manner prescribed by Regulations.