Thursday, Jun 08, 2017

Food for the Bears on Election day !

Financial Reporter: Transactions plummet by a fifth since SDLT reforms

The property market in England and Wales has been "shattered" since the government introduced its stamp duty reforms, according to Nested analysis. The research, which used data from Land Registry and Zoopla, found that transactions across the country fell annually by almost a fifth - 19% - across England and Wales and by as much as 33% in London, as the government’s 3% stamp duty surcharge on second homes saw investors exit the property market.

Posted by jack c @ 10:18 AM (2822 views) Add Comment

4 Comments

1. nickb said...

A tweak on stamp duty on second homes obliterates the mighty property market!
Who'd have thunk it?!
Can't think of any other factors at play ...

Thursday, June 8, 2017 12:00PM Report Comment
 

2. nickb said...

Not bad Jack, but still hungry ...

Thursday, June 8, 2017 12:02PM Report Comment
 

3. mombers said...

Can the Tories pl make up their minds? Having a valuable home is a virtuous thing, rewarded with council tax freezes, CGT exemptions, exemption from paying for care if your assets are all in housing, IHT handout, etc. etc. But if you are 'aspirational' and want to buy same home - fat chance!

Thursday, June 8, 2017 02:07PM Report Comment
 

4. britishblue said...

Give it another 3 months and this news will seem very modest. Property in London is now only shifting with steep reductions and there aren't the foreign buyers or masses of buy to letters there to mop up property as it comes on the market. The market is more domestic than it has been for 10 years.I don't see anything on the Horizon to re spin it up again, unless the Quatari wealth fund decide to buy up half of London.

Thursday, June 8, 2017 06:44PM Report Comment
 

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