Buyers face 'punitive' stamp duty

Press Association
Estate agents
Estate agents

Two in five potential home buyers will face paying at least £7,500 in "punitive" stamp duty costs by 2018 as the property market recovers, a report has warned.

As house prices pick up, four out of every five homes sold in 2012-13 in England and Wales will be subject to the stamp duty land tax within five years, research for the TaxPayers' Alliance found.