article_snippet.sent: In recent years many Britons had been deterred from moving home for fear of the punitive tax on house purchases.
article_snippet.sent: the punitive tax on house purchases was charged on the whole value of a property and successive governments had failed to increase thresholds, trapping growing numbers of families above a £125,000 threshold.
article_snippet.sent: It was a different story in London, however, where he said interest from overseas buyers had dwindled, pushing down prices.
article_snippet.sent: While the stamp duty changes meant lower bills for the majority, those buying million-pound homes have been hit by higher rates – deterring international investors and many wealthy Londoners.
article_snippet.sent: Mr Corfe said: ‘Stamp duty reform, as well as the depreciation of the euro against the pound – making London more expensive for European buyers
article_snippet.sent: Uncertainty around the general election and fears of a mansion tax [under Labour’s plans] may have also driven down demand since the start of the year.