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Article: Stamp Duty up 82% since 2002.
- Article from:
- Mortgage Strategy
- Article date:
- March 10, 2008
CopyrightCOPYRIGHT 2008 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Stamp Duty has rocketed by a shocking 82% in just six years, new research from Halifax reveals.
The data shows that since 2002 the average Stamp Duty bill for first- time buyers has gone up by #800, rising over the six years from #960 to a whopping #1,751.
First-time buyers in Greater London face the biggest Stamp Duty woes, with the average bill up 364% to #8,675 compared with #1,868 in 2002.
The research also reveals a gaping North-South divide in the number of first-time buyers who pay Stamp Duty in England.
Last year, the average first-time buyer paid Stamp Duty in 99% of the South's local authorities compared with just 42% of ...