The number of UK properties sold fell by 45% in between March and April, HM Revenue and Customs (HMRC) figures show, as changes to stamp duty began. In total 94,370 properties changed hands in April, below the record high of 164,400 deals in March.
HMRC stated March had seen a rush to purchase properties prior to the higher rate of stamp duty on 2nd houses came in on 1 April. Since then property owners and buyers of 2nd homes have actually had to pay 3% additional.
The number of houses offered in April - 84,280 - was the lowest for three years. Compared to April last year, the variety of transactions was down by 14.5%.Read More