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The new "mansion tax" – the increase in stamp duty to 5% on property purchases over £1m – will be levied on a mere 0.6% of housing transactions nationwide.
What might make the family think twice about adding to their portfolio is the forthcoming increase in stamp duty on second homes.
In this example a 13% increase in the house price results in a 238% increase in stamp duty, from £2,400 to £8,100.
"It may be that the surge in house purchase activity resulting from the increase in stamp duty on second homes from 1 April provided a temporary boost to prices in March".
The introduction of a two-speed letter service and an increase in stamp prices for basic postage and for business and government customers have helped reduce the losses in the traditional "snail mail" business.
Across all properties in Knightsbridge, sale prices had fallen 7% in the last year, largely driven by the 2014 increase in stamp duty on the most expensive homes from 7%to15%5%.
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Increases in stamp duty on residential properties worth over £2m is better than the current mess.
Increases in stamp duty announced by the former chancellor George Osborne and the uncertainty of Brexit have been blamed.
There have been three increases in stamp duty since 2012 and the top rate of stamp duty, for properties above £1.5m, is now 12%.
Foxtons said the number of house sales it carried out in central London declined because of high prices and increases in stamp duty.
Morrison said this set a dangerous precedent for the states, with Victoria already announcing increases in stamp duty and land tax for foreign buyers.
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