According to the annual Halifax First Time Buyer Review, nearly six in ten FTB purchases are now above the £125,000 Stamp Duty threshold.
The proportion of FTBs exempt from paying stamp duty fell to 41% in 2014 from 45% in 2013. Almost half (47%) of properties bought by FTBs were priced between £125,000 and £250,000.
Nationally, only 13% of FTB purchases were above £250,000 in 2014. There were, however, considerable regional differences with more than half FTBs in Greater London (56%) paying more than £250,000.
The research also found that the number of first-time buyers increased by more than a fifth in 2014, up 22% and resulting in a 50% rise over the past two years.
