Wednesday, April 25, 2012
So all that wailing re: Mansion Tax was for naught?
Last monthâ€™s rise in Stamp Duty to 7% on Â£2m-plus properties has apparently had little effect on the prime central London market. Cluttons said it has seen a number of deals exchange and complete since the new higher tax bracket was introduced and has continued to agree new offers on properties worth in excess of Â£2m. The firm says there has been no evidence of price renegotiation or buyers requesting that sellers share the additional buying costs. James Hyman, partner for residential sales at Cluttons, said: â€œBuyers have taken a very mature attitude towards the comparatively small additional cost when purchasing above the Â£2m mark, accepting it is part of the premium they need to pay in order to secure the property they want