First-Time Buyers will pay an extra £3,675 in Stamp Duty from April 2025💰
📸 Lead image SOLD SSTC by Cavendish Residential: Stunning one bedroom apartment located in the exclusive development of Linby House | Guide Price £190,000 📸
From April 2025, current £425k level of stamp duty-free relief is set to reduce to £300k ⬇️
🔸 Keeping stamp duty relief at £425k next April would certainly help to support First-Time Buyers (FTBs)
🔸 Temporary stamp duty relief has been in place for FTBs since September 2022
🔸 Currently, FTBs won't pay any stamp duty tax on a property priced up to £425,000
🔸 That's more than half (58%) of homes for sale in England (though it varies significantly by region)
🔸 From April 2025, stamp duty tax will be payable when buying a home priced at £300,000 or above
🔸 The 58% of property will fall to 37% = a reduction of -21%
🙋♀️ So, how would 2025 stamp duty changes impact FTBs across the country?
To work out how much stamp duty you need to pay, use Rightmove's online calculator here 🧮
For more information on how to buy a property, contact Emma at our offices (emma.travers@cavendishproperty.co.uk) 📧
📸 Emma Travers: Head of Sales, Lettings and Investments at Cavendish Residential 📸
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