Wednesday, 14 June 2017

SDLT Reform Has ‘Shattered The Property Market’

The government’s decision to introduce stamp duty land tax (SDLT) reforms 12 months ago has had an adverse impact on the overall housing market across England and Wales, fresh research shows. Analysis of data from Land Registry and Zoopla reveals that the number of homes changing hands has fallen by almost a fifth - 19% - across England and Wales and by as much as 35% in London, as the government’s 3% stamp duty surcharge on second homes deters many investors from buying property. The most significant slowdown in activity was at the top end of the market, with the vast majority of listed properties valued at more than £500,000 remaining unsold. Read more on Property Investor Today.

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