London Mansion Prices Fall 11.5% as Home `Bubble' May Have Burst
London Mansion Prices Fall 11.5% as Home `Bubble' May Have Burst# Stock
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London’s most expensive homes and apartments have slumped in value as the government’s stamp duty sales tax damps demand.
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You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland. The current SDLT threshold is £125,000 for residential properties and £150 ,000 for non-residential land and properties.