Stamp duty: What is it, how much is it and how is it changing?

Published On Jul 7, 2020, 8:13 AM

The UK Chancellor Rachel Reeves announced a raise in stamp duty for second-home buyers, landlords, and companies from 3% to 5%, effective October 31. The government also decided against canceling a proposed cut in residential stamp duty thresholds scheduled for March 2025. This change is significant for the housing market and property investors, particularly affecting those purchasing additional properties. The potential consequences may influence market activity in residential property.

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The increase in stamp duty on additional properties could lead to a reduction in demand among investors and landlords for properties, which may put downward pressure on property prices or slow the growth of housing prices. It may also deter potential buyers from entering the market, leading to a cooler property investment climate. Overall, this could negatively impact related sectors such as homebuilders and real estate investment trusts (REITs).

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