Hamptons International Responds to Stamp Duty Announcements in 2012 Budget
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On the announcement that Stamp Duty will be increased to seven per cent on properties valued at £2m+, Adam Challis, Head of Research at Hamptons International, commented: "Increasing stamp duty on properties priced at more than £2m will have a negative impact on transactions at the top end of the market and will disproportionately impact the London property market.  London's economy relies on being an attractive place for corporate executives to base their businesses; the Robin Hood Addiction can't go on forever without impacting London's global competitiveness."

"The stamp duty increase will affect 2,600 per annum homes across the UK, 45 per cent of which are based in Central London.  We predict a "margin shift" affecting 400 properties which are likely to now be marketed below the £2m mark, as a direct result of the stamp duty announcement."


Note to editors:
For media enquiries please contact:
Aisling Gray, Senior PR Manager, Hamptons International
020 7758 8422/ 0778 611 8634 / graya@hamptons-int.com

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