Another 21% of the first buyers in England are confronted with paying stamp rights when a freezing of thresholds is removed at the beginning of April. This is according to estimates from Leeds Building Society.
Currently, buyers of the first time pay stamp rights on houses that cost more than £ 425,000, but from 1 April that will reduce to £ 300,000.
The Society has assessed 2024 market -wide mortgage data and projects that are expected to be subjected 59,400 annual home purchases to the tax in England, in addition to 43,000 purchases where taxes will be higher.
The changes mean that 85% of the first buyers in London would be subject to the costs, together with 55% in the southeast, 49% in the east of England, 30% in the southwest, 16% in the West Midlands, 15% in the East Midlands, 13% in the north -west, 9% in the Humber and 6% and 6%.
Leeds Building Society Matt Bartle noted: “This new analysis emphasizes the impact of changes in stamping rights on ambitious homeowners. We will continue to do everything we can to bring homeowners within reach of more people, generation after generation.”
Discussing the housing market wider Leeds BS -economist Martin Temple said: “We see activities above the expected level at this time of the year, because buyers try to complete on purchases prior to the changes in the land tax of the stamp rights at the beginning of April.
“Although the prospects for the housing market remain positive, with expected interest rates later this year, these changes are a new barrier for first buyers in the most priceless parts of the country.”