UK's priciest areas where first-time buyers are 'rushing to beat' stamp duty deadline

manchestereveningnews.co.uk:

Signs of first-time buyers rushing to beat the stamp duty deadline in England’s priciest locations have been picked up by property website Rightmove.

First-time buyers are being urged to take advantage of the current stamp duty threshold before the changes announced in the autumn Budget come into force from April 2025.

Property experts are encouraging anyone looking to buy their first house priced below £425,000 in the coming months to 'act now' before the threshold is reduced to £300,000 next year.

Currently, first-time buyers are exempt from paying stamp duty on properties priced up to £425,000. But from April 1, 2025, any first-time buyer who buys a house priced between £300,000 to £500,000 will have to pay 5 percent stamp duty tax on their property. READ MORE: The Greater Manchester areas where being single hurts renters the most Rightmove says that first-time buyers in higher-priced areas of England are set to be worst affected.