A report by the OBR shows stamp duty land tax receipts for the past year were £0.9bn lower than forecast, with the shortfall reflecting Brexit-related weakness in the commercial sector. Elsewhere, the Standard’s Sara Yates suggests the stamp duty system could be reformed so it is the seller who pays it, not the buyer.

Daily Mirror, Page: 2

Posted 12/10/2017

 

Wealthy individuals are set to overtake farmers as the primary purchasers of agricultural land as stamp duty rules continue to attract investors and lifestyle buyers. Strutt and Parker said farmers were outnumbered more than two to one in the southeast. Country homes with land have stamp duty capped at 5% compared with up to 12% for a mansion without a farm.

The Times, Page: 22

Posted 06/10/2017

 

Stamp duty has been identified by the Building Societies Association’s Property Tracker as one of the main reasons deterring people from moving up the housing ladder. The study reveals that 38% of those who aspire to relocate are concerned about stamp duty.

The Times, Bricks and Mortar, Page: 4

Posted 29/09/2017

 

 

The Rics’ housing market survey for August shows a majority of surveyors (61%) expect more landlords to step away from the market, with changes to stamp duty and mortgage interest tax relief likely to deter investors.

The Daily Telegraph, Business, Page: 3   The Times, Page: 42

Posted 14/09/2017

 

 

Zipporah Lisle-Mainwaring, who made headlines when she painted her Kensington home in red and white candy stripes, has secured a Court of Appeal ruling saying she can demolish the £4.75m property and build a new one in its place. A planning inspector said her proposals would “result in a degree of enhancement to the character and appearance of the conservation area,” rejecting objections from neighbours.

The Times, Page: 3   Daily Mail   Evening Standard, Page: 5

Posted 12/09/2017

The owners of a house in Fenham, Newcastle are suing the previous owners after discovering a Facebook photo which proves a history of flooding at the property. The house was purchased from John and Margaret Corson who when filling out the TA6 Property Information Form declared the property had never been subject to flooding. Current owners Paul and Hazel Edwards, represented by BTMK of Southend, are seeking a rescission on the sale contract as well as damages.

The Daily Telegraph, Page: 7

Posted 04/09/2017

 

Research from PropTech firm When You Move shows that 27% of people in the UK who have bought a house in the last 10 years have been left temporarily homeless because of delays in the buying process. The firm said the most common reasons cited were admin delays and rental contracts expiring before the person moving had the keys to their new home. The research saw 73% of those who had moved say the process took longer than expected. The research revealed that, on average, the process took seven weeks longer than the initially projected completion date.

The Independent, Page: 15   Evening Standard

Posted 26/08/2017

 

The Environment Agency is being taken to court after a worker charged with eradicating Japanese knotweed from the Agency’s property strimmed it and tossed the debris into a stream, horrifying nearby homeowners, who now claim the knotweed has spread to their North London gardens – wiping more than £150,000 off the value of their homes. Samantha Towle, of Lincolnshire-based JMP Solicitors, said: “It is the claimant’s case that the defendants are not following their own guidelines.”

The Mail on Sunday, Page: 43

Posted 20/08/2017

Stamp duty is making the housing crisis worse because it is deterring older homeowners from downsizing due to the high cost involved, a new report claims. The research by the London School of Economics and the VATT Institute for Economic Research found the rate of home moving would be 27% higher if the levy was scrapped. Prof Christian Hilber, who co-authored the report: “The key message of our paper is that stamp duty hampers mobility significantly.” Now ministers, peers and think-tanks are urging the Chancellor, Philip Hammond, to cut the duty. An anonymous Cabinet minister told the Telegraph the situation was now so acute it had “a big implication in terms of economic growth”. Former chancellor Lord Lawson added: “The present levels of stamp duty are clearly counterproductive, and need to be reduced.” Mark Littlewood, of the Institute for Economic Affairs, proposed the duty should be scrapped altogether.

The Daily Telegraph, Page: 1, 4

Posted 09/08/2017

 

The Times sets out some of the steps housebuyers should take when buying a new or second-hand property with a lease. Hema Anand, head of residential property at Bircham Dyson Bell, says buyers should always use their own solicitor, rather than one recommended by the developer, even if it costs more. Elsewhere, the Mail’s Angela Epstein says that although the government has promised to crack down on leasehold ‘scams’, new legislation will not take effect overnight, so buyers should be vigilant.

The Times, Bricks and Mortar, Page: 7  Daily Mail, Page: 62

Posted 04/08/2017