The exemption scheme, which ends on 24th March, has excused first time buyers from paying stamp duty on their first home purchase for the past two years, provided it costs less than £250,000. Yet when this ends, a fifth of properties for sale in the UK will still be exempt from stamp duty, whether buyers are first-time or otherwise.
People buying in the North East of England have the best chance of finding a property below the stamp duty threshold, as almost four in ten there (38%) properties for sale cost less than £125,000. Yorkshire, Scotland and the North West also provide excellent options, with more than one in three properties in these areas on the market for less than £125,000.
Even London and the South East, home to the most expensive properties in the country, provide some opportunities for keen bargain hunters. 1.6% of homes in the capital cost less than £125,000, and more than one in 20 (6.8%) homes in the South East have asking prices that are below the threshold.
Surprisingly, over two thirds (70%) of properties available for less than £125,000 are houses, not flats. This is due to a substantially higher number of houses on the market.
Samantha Baden, property analyst at FindaProperty.com said:
“Struggling first time buyers should be reassured by the fact that the end of the stamp-duty holiday doesn’t necessarily mean they will have to pay thousands more for their property. Many buyers can still get onto the property ladder without having to pay stamp duty and this applies to all regions of the UK.
"Generally, the further south you go, the harder these properties are to find, but ‘duty free’ properties are even available in London for those with the patience to find the right property and move quickly when it becomes available.”
