Stamp duty back, House price crash back as well?

orangefender

nearlynew wrote: »

The point everyone is missing is why the f*ck should the government take any money from people buying houses?

I've just thought of a new soundbite............




Stamp duty is theft.

I wouldn't shout too loud if I were you. How about "count yourself lucky they don't charge CGT"!

Edit: Ok on reflection it's not exactly the same as CGT would of course be paid by a seller. The point I wanted to make though is that there is relatively very little in the way of tax revenue from residential property transactions. I personally would like to see the CGT exemption removed.

the_ash_and_the_oak

Thrugelmir wrote: »

What leads you to believe that matters have been fixed?

I haven't said I think things are fixed. Was trying to ascertain from Graham what he thought

the_ash_and_the_oak

should tax font size imo

Thrugelmir

bo_drinker wrote: »

It will hardly skim the surface of the mire we are in.
People will want to get more off the price of the house instead, swings and roundabouts

At the peak, stamp duty was contibuting £9 billion a year in tax revenue so hardly insignificant.

nearlynew

the_ash_and_the_oak wrote: »

should tax font size imo

f*ck off ash

chambta

I will be looking to buy a property in the £130-140k price range next year. I expected this and it wasn't enough to make me consider doing things quicker.

In my local area I expect the properties in that price range to head down to the £125k mark or upwards to £140k. Don't ecpect to see too many marketed at £130k.

How 'creative' can solicitors be? Can a transaction reasonably be processed as £125k plus £3k for carpets/curtains and £2k for garden furniture/plants etc etc if the buyer has to cash to make it possible?

Thrugelmir

chambta wrote: »

How 'creative' can solicitors be? Can a transaction reasonably be processed as £125k plus £3k for carpets/curtains and £2k for garden furniture/plants etc etc if the buyer has to cash to make it possible?

A loop hole which for all intents and purposes was closed a while ago.

The extra's reduce the mortgage on LTV grounds as well.

HAMISH_MCTAVISH

PROPERTY BOTTOM - History tells us that property stays at bottom for less than a year and then rises very quickly with large gains in 2 of the last 3 house price crashes. :think:

As for this crash..... see sig.

neverdespairgirl

chucky wrote: »

doubt it Brit - there are only 173 houses in London (yes the whole of london that would now be liable for Stamp Duty after the 1st of Jan). it will have hardly any impact in London if at all.

That's only houses, though. You also pay SD on flats, of course, and there are 1,000+ in London in that bracket. There are nearly 400 just within 3 miles of WC2, central London.

doire_2

HAMISH_MCTAVISH wrote: »

That you have this place confused with www.clutchingatstraws.com

Another day, another batsh1t insane Brit theory as to why house prices will crash 50% by Christmas 2009 70% some time soon.

I note you still have fallacious information on your signature, despite this being pointed out to you on numerous occasions. House prices do not always stay low for years after a crash. They have only stayed low for years in one of the last three crashes.

And in this one, they rose by 10% in 10 months after hitting bottom.;)

In the majority of places?