Stamp duty to hit home buyers

Raising the stamp duty on properties worth more than £1m from four per cent to five per cent could cost London buyers an extra £18,152 per property, according to research by property website Zoopla.co.uk. Stamp duty paid on the average property sold for over £1m was £72,706 and will rise to £90,759 when stamp duty tax on properties over £1m rises to five per cent on 6 April.