Search Acumen comment HMRC Quarterly Stamp Duty Statistics
Search Acumen comments on today’s (28/04/17) HMRC Quarterly Stamp Duty Statistics:
“The squeeze on affordability appears to be continuing as today’s statistics from HMRC reveal that Q1 2017 saw a 39% drop in transactions that were not liable for stamp duty land tax. Prospective buyers are being priced out of the market by surging house prices and a decrease in transactions with low tax thresholds is symptomatic of the housing crisis that burns on.
“It is also interesting to see a twelve percent increase in non-residential transactions that were liable for stamp duty land tax compared with Q1 2016. As the state’s income from property transactions soars, many people will be keeping a close eye on how re-investment by the new government is targeted after the election, including to help hopeful buyers make their first step onto the ladder.”
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