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Majority of first time buyers in England have benefitted from stamp duty cut

December 06, 2018 / Propertywire

Three-quarters of first-time buyers in England have benefited from the changes to stamp duty thresholds for first home purchases introduced a year ago, according to new research. An analysis of first-time buyers activity since the change was introduced by the Chancellor of the Exchequer in November 2017 by really moving also shows that first time buyers in London and the South East have benefitted the most as prices are higher. Last November the Government scrapped stamp duty for first time buyers on properties up to the value of £300,000, while those spending up to £500,000 now pay no stamp duty on the first £300,000 and 5% on the remaining amount.