Squeeze on property market starting to slow London boom?

Category: Economy & Housing & property & Uncategorized

Sales of luxury property in London have seen a considerable slump following Chancellor George Osborne’s sharp increase to stamp duty. Property industry observers have given warnings that the situation is becoming more and more harmful to the property market. Douglas & Gordon, an estate agency with particular expertise when it comes to property in the capital, have seen a drop of almost two thirds in sales of top-end homes in the “prime central” areas of London.

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A hit on the ‘Buy-to-Let’ market from the Autumn Statement

Category: financial planning & Housing & property & Uncategorized

Chancellor George Osborne landed buy-to-let landlords a shock during the Autumn Statement by announcing a 3% stamp duty surcharge on property purchases from 1st April 2016.

The addition of a 3% extra charge for buy-to-let and second homes on all stamp duty bands above a £40,000 starting level will see some purchases taking on a much larger amount of stamp duty.

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