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Stamp Duty Reforms

Stamp Duty Reforms

11th December 2014

According to the RICS November UK Residential Market Survey, national house price growth fell. However, following the Autumn Statement and the reforms to stamp duty, a sales boost in the housing market is expected over the coming months.

According to the RICS, stamp duty reforms are forecast to cause a sales boost of between 2-5% in the UK housing market. The Chancellor himself called stamp duty “the most damaging tax of all” and an increase in house sales is inevitable given the new rules.

The stamp duty reforms have been designed to reduce the distortion in the market and ensure that those buying properties at the top end of the market will contribute fairly, while those at the bottom end of the market will be given a better chance to get on the property ladder. If you would like more information or advice on how the stamp duty changes may affect you, speak to SP Residential on 01622 692206.