Stamp Duty hike drives up moving costs

The cost of moving home in England has jumped 10.9% over the past year, according to new research from estate agents Yopa.

The average mover now faces a total bill of £51,826, with a 15% mortgage deposit costing £43,585, making up the largest share. However, changes to Stamp Duty relief thresholds have also driven costs higher. One year ago, movers paid an average of £1,433 in Stamp Duty, but this rose to £2,028 before 1 April and now stands at £4,528, a 216% year-on-year increase.

With a steady rise in property values over 30 years, home ownership is likely to be the largest purchase you’ll make, so it pays to get advice from someone you trust.

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