60% of homes listed are below the stamp duty threshold for first time buyers.
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In southern England, around 50% of homes listed for sale are priced below the first-time buyer stamp duty threshold of £425,000.
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In the north east that figure rises to 93%
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In Hull, Blackpool, Middlesbrough and Hartlepool, 98% of homes for sale cost less than £425,000
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But it’s much harder to find homes at this price or less in London, Monmouthsire and Edinburgh
If you’re a first-time buyer purchasing a home over £425,000 in England or Northern Ireland, you’ll need to pay stamp duty.
If the property or land is below this amount, you can avoid it altogether.
The rules are different for existing homeowners in England and Northern Ireland, where stamp duty kicks in for properties costing £250,000.
Those buying a home that won’t be their primary residence will pay an additional 3% surcharge on the entire price of the property.
And buyers from overseas will pay an additional 2% surcharge.
In Scotland, first-time buyers are exempt from paying stamp duty on properties that cost up to £175,000.
For those who aren’t first time buyers, the stamp duty threshold is £145,000.
In Wales, there isn’t separate relief for first-time buyers. Instead, everybody has to pay the tax on properties that cost £225,000 or more.
If you’re interested in finding out more about the value of your home or calculate stamp duty you we have tools that can assist with this and finding a suitable new home.
You can also find out more on stamp duty here.
