Stamp duty weighs on home buyers in London – Telegraph.co.uk

Research has claimed that people in London are unfairly affected by stamp duty increases. While Londoners enjoy a higher average salary than the rest of the UK, buyers must pay a higher rate of stamp duty on property. House price rises have outpaced wage growth in the past, and have long been more expensive in London than elsewhere. A report by Rightmove has claimed that these increases particularly affect smaller houses bought by first-time buyers. Researchers have called for the government to help first time buyers to afford property, claiming it will help the economy as a whole.

Stamp duty weighs on home buyers in London – Telegraph.co.uk