High stamp duty sees London house sales at record low

House sales in central London have dropped to a record low as buyers are deterred by high stamp duty, according to an analysis by London Central Portfolio. Just 70 properties are being sold each week – down 16.8% on last year. There are now fewer homes selling than at the height of the financial crisis in 2009. Experts blamed steep hikes to stamp duty for putting off buyers, who are unwilling to fork out hundreds of thousands of pounds in tax.

Daily Mail (22/10/2018)