09 Oct

Housing market that makes losers of us all | Letters

The impact of 12% stamp duty means the London market has stagnated, argues Hazel Dakers, while Rev Paul Nicolson calls for fairer regulations and land taxLarry Elliott writes that it would be a mistake to reduce stamp duty in order to stimulate the housing market (Business view, 8 October). For many years, Mr Elliott and other journalists have chosen to ignore the increase to 12% stamp duty applied by George Osborne to homes costing more than £1.5m. In a not particularly central or glamorous London suburb, houses may be bought for £1.5m to £2.5m which in many parts of the country would cost £600,000 to £800,000. Continue reading…

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