30 Nov '15, 6am

#StampDuty may #kill off #London #luxury feel!

#StampDuty may #kill off #London #luxury feel!

The sale of homes worth more than £1m dropped by 11pc in the first half of 2015, according to Lloyds Bank, while data from LonRes revealed that the number of London homes sold for £1m to £2m fell 22.5pc from July to September against the same period in 2014. The researchers also found that transactions above £5m fell by 29pc between January and October 2015. In the £3m to £16m sector of the London market the sales rate has slowed by up to 30pc since the start of 2015 Becky Fatemi, Rokstone Properties The collision between over-inflated pricing, uncertainty around the general election and the rise in stamp duty has knocked the high-end housing market, triggering a flight of wealth out of the capital to France and New York. David Adams, managing director of the international estate agent, John Taylor, which has been operating in the French market for 150 years, said: “The ph...

Full article: http://www.telegraph.co.uk/finance/property/house-prices/...

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