I could not agree more with this Henry Prior chap at Rightmove. I also believe that Stamp Duty is not just slowing down property transactions, but it kills the economy as well.
Employees are less likely to relocate as needed leading to lower productivity and builders, DIY merchants etc. get less trade. Get rid of stamp duty!
However, not everyone agrees that a shortage of homes is the issue."It is not supply. There are currently tens of thousands of homes for sale in London on Rightmove," said property expert Henry Pryor.He said that it was the cost of moving that was deterring people from buying them."The problem is the 'transaction friction' - predominantly the higher rates of stamp duty at the upper end."