propertytalk Live! - Higher stamp duty thresholds would have doubled if linked to house prices

propertytalk Live! - Higher stamp duty thresholds would have doubled if linked to house prices

The higher stamp duty thresholds would be more than double their current level if they had risen in line with house prices, according to new research by Halifax.

The higher stamp duty thresholds - £250,000 and £500,000 – have been unchanged since their introduction in July 1997 despite a 140% increase in house prices over the period to January 2011.

If the higher stamp duty thresholds had been increased in line with house price inflation since July 1997, the £250,000 threshold would now be £600,000 and the £500,000 threshold would stand at £1,200,000.

The failure to raise the higher stamp duty thresholds has helped to drive a five-fold increase in the proportion of home buyers required to pay stamp duty at the higher rates over the past decade.