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The tipping point of £938,000 means that only buyers of homes approaching the million mark are worse off under the new stamp duty rules.
Figures from the Council of Mortgage Lenders (CML) show that lending recovered in May after falling sharply in the first month of the new stamp duty rules.
The firm's latest prime central London sales index suggests changes to stamp duty rules in December and uncertainty caused by China's currency devaluation caused the summer slowdown to be sharper than usual.
Overseas buyers are also increasingly focusing on towns and cities outside the UK capital – with Manchester, Liverpool and Birmingham all identified as "hotspots" as buyers try to get more for their money while avoiding new stamp duty rules.
Nationwide said that the slowdown was to be expected owing to changes in stamp duty rules creating a "headwind" in an already difficult environment.
Nationwide's Chief Economist, Robert Gardner, has said that a fall in house prices in the UK was to be expected owing to changes in stamp duty rules.
Similar(49)
Of course, some exceptions to the "no duty" rule exist in common law.
However, scrapping the lesser duty rule in Brussels could allow duties to be lifted much higher.
The government must support the lifting of the lesser duty rule, otherwise steel manufacturing will be lost in the UK and Europe".
What the questioner was referring to was the lesser duty rule... essentially it is whether you have a proportionate response or you lurch towards protectionism.
The "no duty" rule can be traced to the spirit of rugged capitalist individualism, the Darwinist idea that the common good is advanced through the struggles of selfish individuals.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com