London's most expensive properties have been dented by strict new stamp duty rules, new research from upmarket estate agent Savills has shown, with prices in central London falling 4.6 per cent in September, compared with the same month last year. The heart bleeds...
The research suggested new rules introduced in last year's Autumn Statement, which hiked stamp duty on homes worth more than £2m, are having the desired impact. While prices of homes worth less than £2m rose (three per cent for those in the £500,000-£1m bracket; 0.9 per cent for those valued between £1m and £2m); the value of properties worth more than £2m fell.