08.05.2013 - London property prices continue to outperform
According to HM Land Registry All Transaction Data, prices in the area rose 25% across the year to reach an average of £1,186,817. LCP said this price increase is equivalent to earning £122 an hour for a working week, 14 times the London Living Wage (£8.55). Two years down the line from the 2011 Budget, headline results show a complete recovery from the rise in Stamp Duty from 4% to 5% for purchases above £1m. The bunching in sales under £1m, which occurred following the 2011 stamp duty increases, has now burst through and the £1m - £2m price band has seen a staggering increase in transactions of 84% since last March...............................................Full Article: Source
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