Another month and another set of mixed messages about the state of the housing market is revealed. First-time buyers who have a deposit and home movers in the North are doing fine. But London is on the ropes and second and third movers are staying put, bringing the market to a standstill.
In this week’s This is Money podcast, editor Simon Lambert, assistant editor Rachel Rickard Straus and money broadcaster Georgie Frost get into the aural attic to unbox the facts. The villain of the piece, they agree, is stamp duty. It used to be a 1% tax on purchases but it got tweaked into a giant cash cow for the Treasury by successive Chancellors. Stamp duty is stalling the market and needs to change but how? Also on the show: Paddington Bear 50p Gate.