Are the Stamp Duty hikes doing more harm to the UK Economy than just strangling the Residential Property Market?

We all know the reasons why the former Chancellor imposed those draconian hikes on Stamp Duty charges in the autumn Budget of 2014 and we can now see the full devastating and distorting effect it is having on the Residential Property Market, particularly in London.

Prices are down by 25% and activity is down by 70% and since transaction expenses are now playing such an important part in the mind-set of prospective buyers, in certain price ranges, there is absolute gridlock in sales, where sellers outnumber buyers by 10-1. Continue reading