Soaring house prices in St Albans lead MP to demand tax changes
PUBLISHED: 18:30 06 October 2014
London’s housing market is continuing to put “huge” pressure on house prices in St Albans, prompting MP Anne Main to call for stamp duty land tax to be changed so it is fairer.
Mrs Main was responding to a recent article in The Sunday Times in which Lucian Cook, director of residential research for Savills estate agents, said he expected areas like Brighton, Bristol, Cambridge and St Albans to “see the biggest wave of price growth in the short to medium term”.
Mrs Main said: “Savills are confirming what we all know, namely that the London market is putting huge pressure on house prices in St Albans.
“It is increasingly hard for people to move house locally as they will have to fork out, not only extra mortgage and legal fees, but a huge stamp duty fee, which is in effect a postcode tax.”
She added: “It’s time we looked at a fairer system that doesn’t disproportionately penalise people from areas like St Albans who want to move home.
“Pressure is building for fair reform to the stamp duty levy.”
• Fifty-one councils in the wider south east, including St Albans district and Herts county, have banded together to reject London Mayor Boris Johnson’s plans to expand into neighbouring areas.