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London homeowners rush to sell before stamp duty increase

Bloomberg
Bloomberg • 3 min read
London homeowners rush to sell before stamp duty increase
Home prices are ending the year 1.4% above levels seen a year ago, and are forecast to rise 4% in 2025 if anticipated cuts to mortgage rates materialise. Photo: Bloomberg
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Small homes in London are pouring onto the market as sellers try to get ahead of an upcoming tax increase, threatening to dampen demand for property for much of next year, according to Rightmove.

The property website said the number of newly-listed homes of two bedrooms or fewer rose 20% in the four weeks to Dec 7.

These are popular with first-time buyers, who currently pay no stamp duty on the first GBP425,000 ($723,775) of a purchase.

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