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Property sales dive on stamp duty changes, says HMRC | Property sales dive on stamp duty changes, says HMRC |
(35 minutes later) | |
The number of UK properties sold fell by 45% between March and April, HM Revenue and Customs (HMRC) figures show, as changes to stamp duty began. | The number of UK properties sold fell by 45% between March and April, HM Revenue and Customs (HMRC) figures show, as changes to stamp duty began. |
In total 94,370 properties changed hands in April, down from the record high of 164,400 transactions in March. | In total 94,370 properties changed hands in April, down from the record high of 164,400 transactions in March. |
HMRC said March had seen a rush to buy properties before the higher rate of stamp duty on second homes came in on 1 April. | HMRC said March had seen a rush to buy properties before the higher rate of stamp duty on second homes came in on 1 April. |
Since then landlords and buyers of second homes have had to pay 3% extra. | Since then landlords and buyers of second homes have had to pay 3% extra. |
The number of residential properties sold in April - 84,280 - was the lowest for three years. | The number of residential properties sold in April - 84,280 - was the lowest for three years. |
Compared to April last year, the number of transactions was down by 14.5%. |
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