Do you have a home that will appeal to first time buyers that you're thinking of selling?

If you are, then now is a crucial time to start the process, as of March 2025 first time buyers will have to pay more Stamp Duty. They are out now and want to buy!

At the moment, buyers of homes worth less than £250,000 don't pay stamp duty. This was doubled from £125,000 under Liz Truss's mini-Budget in September 2022.

The threshold is £425,000 for those buying their first property. This was raised from £300,000 as part of the mini-Budget.

These higher thresholds will end in March 2025, when they will revert to previous levels.

There is now a real urgency among first time buyers to secure their first home. If you have a home that first time buyers would be interested in, it is a great time to market to beat the March deadline. Sellers always want a buyer with no chain, but quite often with first time buyers there isn't a real need to move. Now there is!

If you have any questions regarding this or other property related matters, contact our Sales Director, David Long on 01932 232927 or david@newboulds.com

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