The “stifling” effect of stamp duty on the housing market
means an extra 146,000 property sales could have taken place over the last five
years if home movers had not been faced with the tax, a report has estimated.
Despite reforms to stamp duty in recent years, it remains “inefficient”,
fuelling housing shortages, making homes less affordable and putting people off
moving to more suitable properties – from those taking early steps on the
housing ladder to older home owners. It also hampers social and economic
flexibility by making it harder for families to live near their desired schools
or places that could provide particular job opportunities. Read more on Yahoo.
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