One in five homebuyers faces 3% stamp duty

The research of house prices and home sales in 2,132 postcode districts across England and Wales reveals there has been a 281% rise in the number of home sales above the £250,000 threshold at which a 3% rate of stamp duty is levied. The number of residential property sales attracting at least 3% stamp duty has increased from 73,403 in 2001 to 279,408 in 2006, while the percentage of homebuyers paying at least 3% stamp duty has risen from 6% to 19%. Home buyers in these transactions face a stamp duty bill of at least £7,500. Total stamp duty revenue from residential property sales was ...