Higher rate Stamp Duty catches over half properties in south-east

News Category: Industry News

 









Estate agents in London and the south-east are becoming increasingly concerned about the level of Stamp Duty on properties over £250,000.
 
Whilst Labour has promised a two-year holiday from Stamp Duty for first-time buyers paying up to £250,000, and the Tories have promised it permanently, none of the parties has addressed the issue of Stamp Duty payable at 3% on properties over £250,000.
 
Peter Ford, group operations director for Bader Holdings, parent company of Townends and Regents estate agents, said: “I would urge the next government to review the current 3% Stamp Duty threshold which now impacts on over half of all purchases in the south-east and London.”
 
The 3% rate was introduced in 2000 when the average house price was around £80,000.



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