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4th December 2015
Anna White in the Telegraph says the Government's increase in stamp duty has cooled the capital’s luxury property boom, with the number of sales in the £1m to £5m price bracket falling this year. Ms White says a report from Lloyds Bank shows that the sale of homes valued at more than £1m are down 11% in the first half of 2015. LonRes figures show that the number of London homes sold for between £1m and £2m fell 22.5% from July to September compared with the same period in 2014 while sales worth more than £5m were down 29% between January and October 2015. She says overseas investors and second-home buyers have shifted their focus to New York and the south of France.