Homeowners have benefited from higher stamp duty thresholds, set at £250,000 (or £425,000 for first-time buyers), but these will revert to £125,000 and £300,000, respectively, from April 2025. This change will significantly impact first-time buyers, particularly in high-priced areas like London, where average prices are almost £520,000. The average stamp duty bill for London properties will increase from £13,500 to £16,000, with 78% of stamp duty revenue coming from southern England.
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