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Article: Cost of moving leaps sky-high ; Stamp duty takes most of the extra cost and contributes to the South West's housing shortfall
- Article from:
- Western Daily Press (Bristol UK)
- Article date:
- November 6, 2007
- Author:
CopyrightCopyright 2007 Western Daily Press (Bristol UK). Provided by ProQuest LLC. (Hide copyright information)
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Stamp duty takes most of the extra cost and contributes to the
South West's housing shortfall
The cost of moving home in the South West has soared by 280 per
cent over the past 10 years to more than pounds11,000, according to
new research.
Stamp duty now accounts for nearly half the total bill as a
result of the huge increase in house prices in the region.
Ten years ago the average homebuyer in the region stumped up
pounds480 in stamp duty - equivalent to around a sixth of the total
cost of moving.
Now the amount paid is more than 12 times higher at pounds5,880 -
an increase of 1,120 per cent.
That is a bigger increase than London and way above the average
increase across England and Wales ...