“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.”
To read more about the HMRC Quarterly Stamp Duty Statistics click here.