{"id":2646,"date":"2017-04-20T07:00:35","date_gmt":"2017-04-20T06:00:35","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2646"},"modified":"2017-04-20T07:00:35","modified_gmt":"2017-04-20T06:00:35","slug":"sajid-javid-wont-back-stamp-duty","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/20\/sajid-javid-wont-back-stamp-duty\/","title":{"rendered":"Sajid Javid won\u2019t back down on stamp duty"},"content":{"rendered":"<p><strong>Community secretary, Sajid Javid, has refused to change the Government\u2019s approach to stamp duty policies recently introduced.<\/strong> <\/p>\n<p>During George Osborne\u2019s times as the country\u2019s Chancellor, stamp duty rates were raised for homes worth more than \u00a31 million. Since then, property developers and other industry experts have loudly voiced their opinion that the change contributed to a <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/02\/london-drop-started-prime-sales-fall\/\" target>decline in house prices in Central London<\/a>. <\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"PYLikvfvCs\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/14\/record-low-number-uk-sale-listings\/\">Record low number of UK sale listings<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Record low number of UK sale listings&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/14\/record-low-number-uk-sale-listings\/embed\/#?secret=GSN034O6TB#?secret=PYLikvfvCs\" data-secret=\"PYLikvfvCs\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Those against the new stamp duty rules argue that it led to a <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/03\/far-prices-london-fall\/\" target>stagnation in home sales at the top end<\/a>, which, as a result, makes it harder for younger generations to move up on the property ladder. <\/p>\n<p>When Javid was made aware of these concerns by the communities committee yesterday, he remained firm, stating that the change would only affect a small proportion of people. Those buying the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/27\/london-house-prices-collapse\/\" target>most expensive properties London has got on offer<\/a>. <\/p>\n<p>According to City AM, he went on saying that:<\/p>\n<blockquote><p>\u201cThere is obviously a link between the top end of the market and the bottom end&#8230;and, as with any tax change, in time, it&#8217;s important to keep it under review. But it\u2019s not a decision for this department.\u201d<\/p><\/blockquote>\n<blockquote class=\"wp-embedded-content\" data-secret=\"BS4gXhoL33\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/19\/property-investment-halved-since-stamp-duty-rise\/\">Property investment halved since Stamp Duty rise<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Property investment halved since Stamp Duty rise&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/19\/property-investment-halved-since-stamp-duty-rise\/embed\/#?secret=dJfY5nNw5T#?secret=BS4gXhoL33\" data-secret=\"BS4gXhoL33\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Any decision in relation to tax would, ultimately, have to be made by the Treasure and not the communities department. <\/p>\n<p>This, however, doesn\u2019t mean the property sector has given up. Developers are now joining forces to fight against the Government on its new stamp duty policy. They\u2019ve created a lobby group which is putting together evidence on how <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/04\/property-trends-expect-2017\/\" target>the policy has affected the property market<\/a> negatively and should be reversed. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Community secretary, Sajid Javid, has refused to change the Government\u2019s approach to stamp duty policies recently introduced. During George Osborne\u2019s times as the country\u2019s Chancellor, stamp duty rates were raised for homes worth more than \u00a31 million. Since then, property developers and other industry experts have loudly voiced their opinion that the change contributed to<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/20\/sajid-javid-wont-back-stamp-duty\/\" title=\"ReadSajid Javid won\u2019t back down on stamp duty\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[11,65,17,227,85],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2646"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2646"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4396"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}