While Brexit fears have created more uncertainty for the future of Great Britain, this article rightly points out that stamp duty changes of 2014 actually reduced the cost for 98% of the people buying property. Ultimately the culprit seems to be a simple case of too many homes being overpriced relative to current demand.
Jonathan Eley states “I am engaged in a never-ending struggle with my inbox. I get around 200 emails a day. Staying on top of them is like clearing the Augean stables. Despite my enthusiastic use of the “delete” key, I still have close to 2,000 unread messages. Of those, more than 200 contain the term “house prices”. I have never been a property correspondent and I stopped editing the FT’s Money section more than two years ago. Yet still the press releases flood in. They fall into two broad categories. The first is the plain daft: how prices compare along the route of the Boat Race, or how much a new Waitrose adds to the value of your home. The second is the running commentary about the various house price indices that are released each month.”
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