Stamp duty bill grows five times faster than salaries

The Building Society says it is surprising stamp duty was not looked at in the pre-budget report, after inheritance tax thresholds were raised to take account of spiralling property prices. Stroud & Swindon’s research found annual gross income has grown by 54.3% in the last ten years, while the average stamp duty bill has risen to 289.2% in the same period. The tripling of average UK house prices means the average stamp duty bill is now £1,989, compared with £688 in 1997. Stroud & Swindon says it is vital for the Government to raise the stamp duty threshold to help first time buyers a...