8 Apr

Stamp duty boost for houses for sale in Oxfordshire?

Stamp duty boost for houses for sale in Oxfordshire?

Prime property for sale in Oxfordshire worth more than £1 million may have experienced a demand rush from buyers looking to avoid the new stamp duty rate.

Knight Frank has revealed that £333 million worth of transactions were completed in the three weeks up to April 5th, compared to just £74 million in the same period of 2010.

The estate agent attributes the boost in demand to buyers looking to avoid the new five per cent stamp duty rate, applicable to homes worth more than £1 million and brought into effect with other Budget measures earlier this week.

Property for sale in Goring, Oxfordshire may have seen a rush of buyers in recent weeks, as it boasts 16 homes worth more than £1 million, according to the Daily Telegraph.

Rupert Sweeting, head of country department at Knight Frank, said: "We saw an unprecedented rise in the number of exchanges and completions before the end of the 2010/11 tax year.

"On a £3 million purchase a buyer saves £30,000."ADNFCR-1222-ID-800493437-ADNFCR

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