propertytalk Live! - Home sales tumble following return of stamp duty
House sale transactions plummeted by 18% in April following the end of the stamp duty holiday according to the latest LSL Property Services/Acadametrics England & Wales House Price Index.
Despite this house prices have remained steady, falling just 0.2% in April.
Richard Sexton, director of e.surv comments:
“The sharp fall in transactions in April shows the huge impetus the end of the stamp duty holiday injected into the market. The 32% rise we saw in March has now been replaced by the corresponding fall and the pressure is now on for the government to show schemes like New Buy will be able to make up for the return of stamp duty and drive the market forward.
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