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A tax break worth up to £1,500 for
home-buyers will help revive London's flagging property market,
professionals said today. From Friday, anyone buying in a "deprived"
neighbourhood will no longer pay stamp duty if the property costs
less than £150,000.
After Gordon Brown announced the
move in his Pre-Budget Report yesterday, officials released a list
of the 2,000 local government wards which qualify. The tax is levied
at one per cent on properties above £60,000, so savings will range
from £600 to £1,500.
In Kensington & Chelsea the wards
affected are Golborne, St Charles & Avondale.
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