Stamp duty reform will boost house prices by 3% to 5% in 2015

We estimate that the direct impact of the reform to stamp duty will boost house prices by a relativelyminor 0.6%. But the indirect effect of reducing upfront costs and boosting housing market sentimentwill be more powerful. Overall house prices will end 2015 around 3% to 5% higher than they wouldotherwise have been.

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