Could you get on the property ladder without paying thousands of pounds in stamp duty? Yes, but you need to act fast!

New research from estate agents Lomond reveals 66% of homes for sale in England are priced under £425,000 – meaning first-time buyers (FTBs) like YOU could dodge that hefty tax bill.

Right now, FTBs don’t have to pay ANY stamp duty on properties up to £425,000. But that’s all set to change in March 2025. After that, you’ll only get a tax break on properties under £300,000.

Where are the best bargains?

Lomond crunched the numbers to find out where FTBs have the best chance of snapping up a stamp duty-free home. Here are the hotspots:

• Bradford is a gold mine, with 94% of homes on the market priced under the threshold!
• Other northern cities like Newcastle (91.7%), Liverpool (91.2%), Birmingham (88.6%) and Manchester (87.9%) are also great bets.
• Fancy a Midlands pad? Leicester (87.7%), Sheffield (86.2%) and Nottingham (85.4%) are calling!

Sadly, Londoners are facing a tougher time, with only 32.1% of properties falling under the threshold. And in Brighton, it’s just 53.6%.

Don’t hang around!

Competition is fierce! Lomond warns that almost half (47%) of these stamp duty-free properties have already been snapped up.

• Bristol is a FTB frenzy, with 62.3% of affordable homes already under offer or sold.
• Sheffield (59.4%) and Newcastle (57.4%) are also seeing huge demand.

Will Labour step in?

The big question is: will the new Labour government extend the stamp duty holiday in the Autumn Budget on October 30th?

The Conservatives promised to keep the £425,000 threshold, but Labour hasn’t committed to anything. With a big hole in the public finances, a tax break might be a long shot.

Lomond’s CEO, Ed Phillips, says: “The lower stamp duty threshold has been a lifeline for first-time buyers… But the clock is ticking… Those who wait could end up paying thousands more.”

His advice? Don’t delay! Start your property search today and grab your dream home before it’s too late!