'Property stampede' predicted after stamp duty hike in Budget
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manchestereveningnews.co.ukBudget decisions that increase stamp duty on home purchases, raise the property tax on buying second properties, and lead to higher interest rates will impact the market, it has been suggested.
Speculation around changes ahead of the Budget was key in reducing the annual rise in property prices from 3.2 per cent in September to 2.4 per cent, according to Nationwide Building Society.
Experts at investment firm Hargreaves Lansdown warn that the fall-out from the Budget will significantly affect future prices and sales.
The Chancellor has decided that the nil rate for paying stamp duty on a home will drop from £250,000 to £125,000 from April 1.
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