26 Jan

No stamp duty impact for high-end houses for sale in the UK

No stamp duty impact for high-end houses for sale in the UK

People looking for houses for sale in the high-end property market may not be affected by a rise in stamp duty.

From April 6th, the purchase of houses worth £1 million or more will come with a stamp duty increase of four to five per cent.

However, 52 per cent of estate agents, developers and mortgage brokers predict the rise to have no impact on prices.

In addition, Knight Frank recently reported that the price of properties for sale in prime central London continued to rise in December 2010.

In November, price falls in the area began to reverse and by the end of last year prices were 10.3 per cent higher than in December 2009.
In addition, Kensington, Knightsbridge and St John's Wood saw more than three per cent growth between October and December last year.

The £1 million to £5 million price bracket saw growth of 2.4 per cent, according to the estate agentADNFCR-1222-ID-800365589-ADNFCR

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