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Average Stamp Duty Halved

June 14, 2015 by Carol Peett

Reforms in Stamp Duty Land Tax, brought in by the Chancellor at the end of 2014, have resulted in the amount payable on an average UK property being more than halved.  Research by Post Office Money said the reforms came as a huge relief to property buyers who had seen the average Stamp Duty bill increase by over 300%, from £1,900 in 2004 to £7,800 in 2014.

The amount payable on a typical £273,000 house has dropped from around £8,200 to just £3,650 as a result of the changes. Only those buying houses worth almost £1 million have seen the amount increase.  The research also concludes that buyers will still be better off by 2020 when they are forecast to spend £5,750 on Stamp Duty.

If you are looking to move to West Wales, or purchase a holiday home or rental property here, West Wales Property Finders would be delighted to help you.  Over 90% of the properties we find our clients never hit the open market; ensuring they get the cream of the crop whilst saving money, time and energy at the same time.  Do check out our website at www.westwalespropertyfinders.co.uk, call us on 01834 862816 or email carol@westwalespropertyfinders.co.uk.

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