Overview
- Rightmove estimates first‑time buyers in England paid £408 million in stamp duty over the past year, up about £307 million on the previous year and roughly £4,618 more per buyer.
- The April 2025 rule change cut the first‑time buyer tax‑free limit to £300,000, with 5% now due on the portion up to £500,000 and no relief above that price.
- London buyers accounted for 53% of the total paid and the South East for 23%, while lower‑priced regions such as the North East and East Midlands contributed only small shares.
- Mortgage costs have risen since recent Middle East tensions rattled markets, which has further stretched new buyers already saving for deposits and fees.
- Property experts say higher upfront tax in expensive areas reduces the supply of suitable starter homes and argue a single national threshold no longer matches local prices.