Monday, 27 June 2016

HMRC Figures Show Effect Of Stamp Duty Changes

Residential property transactions increased by 1.5% between April and May 2016, but were 11.9% lower compared to the same month last year, according to the latest seasonally adjusted figures from HMRC. “The large increase in transactions for March 2016 followed by the substantial reduction in April is likely to be associated with the introduction of the higher rates on additional properties in April 2016. However, whilst April and May 2016 are lower than the corresponding months in 2015, it should be noted that the total for March to May 2016 is still substantially higher than the corresponding period last year,” according to the HMRC’s latest statistical release. Read more on the Housing Excellence website.

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