Stamp duty back, House price crash back as well?

tomstickland

My guess is that the end of the stamp duty holiday will cause asking prices of the affected properties to drop slightly compared with what they would have been before.

silvercar

In the last 10 years, in my post code area (first half of postcode), 275 properties sold between 248,900 and 250,000, only 1 property sold between 250,000 and 255,000 and only 12 between 255,000 and 260,000!

Stamp duty increase at 250k is 5k, the "no-go" price range is double that.

Applying the same logic at 125k suggests that no-one will pay 125,000-127,500.

On the other hand properties between 175k and 180k will now do better.

nembot

Don't think this weeks announcements will trigger an instant crash, but the problems are now a lot more visible to the masses, what effect this will have is as yet unknown.

kabayiri

Much of this discussion illustrates the London / non-London divide.

The prices have been stoked to a level in London which is mental, in all fairness.

For all sorts of reasons, companies / governments / individuals will feel poorer over the next decade. The drive to cut costs will be on.

If you were a bean counter, wouldn't you be doing the maths? Why pay that PA 40K+ in London when you can get similar for 28K elsewhere. Job relocation will make sense.

A beneficial by-product would be to take some heat out of the London house market. It's too far out of kilter with the rest of the country.

Thrugelmir

kabayiri wrote: »

Much of this discussion illustrates the London / non-London divide.

The prices have been stoked to a level in London which is mental, in all fairness.

For all sorts of reasons, companies / governments / individuals will feel poorer over the next decade. The drive to cut costs will be on.

If you were a bean counter, wouldn't you be doing the maths? Why pay that PA 40K+ in London when you can get similar for 28K elsewhere. Job relocation will make sense.

A beneficial by-product would be to take some heat out of the London house market. It's too far out of kilter with the rest of the country.

Has been happening for years, core manufacturing and processing to China since the early 90's.

More recently assembly type operations (electrical goods, computers etc) to Eastern Europe.

We've been so infatuated with property and all related industries and services for the past 7/8 years that we've ignored sectors of the economy.

nearlynew

Stamp duty is theft

Dan:_4

nearlynew wrote: »

Stamp duty is theft

try a bigger font dude, or just don't ever buy a house and you wont have to worry about it.

tommy75

nearlynew wrote: »

Stamp duty is theft

We know Eric!!! :xmassmile

nearlynew

Dan: wrote: »

try a bigger font dude, or just don't ever buy a house and you wont have to worry about it.

I won't be buying another, don't worry about that.

nearlynew

I love it when my post is top of a new page