Thousands of first time buyers were given a fresh glimmer of hope over the weekend after Sajid Javid hinted at plans to once again reform stamp duty.

In an interview, the Chancellor said he was a "low tax guy" and that he wanted to see "simpler" taxes.

And in that, he suggested he was looking at various ways to reform the levy to support the younger generation.

Stamp duty - a purchase tax paid in England and Northern Ireland on properties worth more than £125,000 - was abolished in 2017 for first-time buyers spending up to £300,000 on a house.

However as the interview, printed in the Times, went live, the Chancellor, made an unexpected u-turn.

"I wouldn't support that," he tweeted on Sunday, profusely denying any of the claims.

"I know from the Ministry of Housing, Communities and Local Government that we need bold measures on housing - but this isn't one of them," Javid added.

While forcing sellers rather than buyers to pay the stamp duty tax would reduce costs dramatically for those looking to upgrade or buy for the first time, it would also result in a reduction in the number of people downsizing, leading, in turn, to less properties for sale.

The latest housing figures suggest that both house prices and sales are losing momentum amid Brexit uncertainty.

In particular, the number of first time buyers are dipping, while overall, the Royal Institution of Chartered Surveyors (Rics) says the market is "pretty much flatlining".

In the interview with the Times, Javid refused to give details of his plans to reform the tax system, instead saying "wait and see for the Budget" which is due to take place in the autumn.

Javid said he had not yet decided whether to hold the Budget before 31 October, the date the UK is expected to leave the EU.

The Association of Accounting Technicians (AAT) has long been campaigning for the Government to switch Stamp Duty liability from the buyer to the seller.

"AAT does not believe switching Stamp Duty liability is a panacea, but it would be considerably fairer, simpler, more effective and cheaper than the current Stamp Duty regime," a statement said.