First-time buyers have paid an estimated £307m more in stamp duty since the end of the holidays in April 2025, according to new analysis. move rightThe average bill per purchase is increasing by £4,618.
The increase follows the reduction of the nil-rate threshold from £425,000 to £300,000. Before the change, 62% of homes were below the price threshold and first-time buyers were exempt from stamp duty. A year later, this figure has fallen to 41%, reducing the availability of stamp duty-free properties.
| property price | Average stamp duty bill per transaction
April 24-March 25 |
Average stamp duty bill per transaction
April 25-March 26 |
average stamp duty
increase per transaction |
| less than £300,000 | £0 | £0 | £0 |
| £300,001 – £425,000 | £0 | £3,094 | £3,094 |
| £425,001 – £500,000 | £2,171 | £8,447 | £6,276 |
| £500,001 – £625,000 | £7,074 | £18,260 | £11,186 |
Its impact is uneven across the country. among buyers London More than half of the estimated £408m paid out since the threshold was lowered south east england Contribution of about a quarter.
In contrast, areas such as North East England And East Midlands A much smaller share is made up, as more properties in those areas remain below the £300,000 threshold.
The data highlights how the current system places a greater burden on buyers in higher-priced areas, where fewer homes fall into the tax-free bracket.
| Area | stamp duty contribution |
| East Midlands | 1% |
| East of England | 10% |
| London | 53% |
| North east | 0.3% |
| north west | 2% |
| south east | 23% |
| south west | 8% |
| West Midlands | 2% |
| Yorkshire and the Humber | 1% |
Rightmove said the figures raise questions about whether the national stamp duty range reflects regional property prices, given that the current structure has remained largely unchanged since 2017.