House sales tumbled by almost two-thirds in July after tens of thousands of homebuyers rushed to complete their purchases in order to beat the end-of-June stamp duty holiday deadline. Following a record surge in activity in June, when 213,370 UK homes changed hands, transactions slumped 62% to 82,110 in July according to official data, after the government scaled back its tax break for buyers in England and Northern Ireland. HM Revenue and Customs – which published the new data – said it showed that homebuyers were “completing property transactions earlier to take advantage of government housing market policies”. HMRC also said that following the changes to the rules, “an expected but noticeable decrease [in sales] has been observed”. Read more on the Guardian website.
https://www.theguardian.com/money/2021/aug/24/uk-house-sales-stamp-duty-holiday-deadline-tax-break
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