Taxing time for housing market

MOVING home is one of the most stressful events in anybody’s life — even more than divorce and root canal dental surgery. Just ask Housing Minister Angela Rayner.

- By Deborah Stone

It’s not that stamp duty is too complex, after all it’s not difficult to find out how much you owe. It’s just that stamp duty and the varying amounts depending on whether you're a first-time buyer, second stepper or second homeowner is yet another layer of expense on top of legal fees, estate agent fees and home removals costs.

But stamp duty could be the least of home movers' problems. While the nation waits to hear whether Deputy Prime Minister Rayner will keep her ministerial job, this week we’ve also heard that the Autumn Budget will be on November 26 and speculation over possible house tax changes are reaching fever pitch.

House prices dropped unexpectedly in August and the annual rate of price growth has slowed down, possibly with the increase of buy-to-let properties flooding the market.