Dec 14
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Stamp Duty changes – Will it boost UK property sales?
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Published by OPP Connect on Thursday, 11 December 2014, By Adrian Bishop
UK real estate demand has fallen to an 18-month low, but the new Stamp Duty reforms are set to boost future sales by up to 5%, say industry professionals.
Estate agents expect a sales boost of between 2% and 5% from Chancellor George Osborne’s Stamp Duty reforms announced in last week’s Autumn Statement, which mean the tax will be based on the actual value of the property, rather than strict bands.
However, they fear the benefit will have less of an effect on the London market, where 40% more of those surveyed in November believed prices were falling than rising, says the RICS UK Residential Market Survey.
