16 Mar

First-time buyers dodge stamp duty for houses for sale in south east

First-time buyers dodge stamp duty for houses for sale in south east

Almost three in four first-time buyers are exempt from stamp duty when buying houses for sale in the south east, it has been revealed.

Seventy three per cent of first-time buyers dodge the duty due to the doubling of the threshold, research by Halifax shows.

Alistair Darling announced a two-year stamp duty exemption for people trying to get onto the property ladder as part of the 2010 Budget.

The tax relief applied to residential property purchases up to £250,000.

According to statistics from the bank, 95 per cent of first-time buyer purchases in the UK are below the £250,000 mark.

Estate agents in South Gloucestershire will have also seen a rise in the number of buyers exempt from stamp duty, with 68 per cent more buyers exempt when buying houses for sale in the area priced between £125,000 and £250,000.

In addition, the number of first-time buyers exempt from the charge when investing in property for sale in East Devon worth more than £250,000 has increased by 100 per cent since the introduction of stamp duty in 2007.ADNFCR-1222-ID-800465499-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.