Stamp duty reform would boost downsizing among elderly - report

A report published today by the London School of Economics and The Family Building Society found potential downsizers cannot buy something that costs the same as their original house without spending large amounts of money on stamp duty - but they can stay where they are for free. It found those aged between 51 and 80 were most likely to say they intended to downsize. It said older retired people in big family houses who are looking to move to a more manageable property should be incentivised to do so, as it would be beneficial to their own wellbeing as well as improve the efficiency ...