Mapped: The areas of England and Northern Ireland where stamp duty rises will hit hardest

The proportion of first-time buyers in England and Northern Ireland who will need to pay stamp duty is set to double in April, rising from 21% to 42%, according to Zoopla analysis. Existing homeowners will also see a significant increase, with those liable for stamp duty expected to jump from 49% to 83%. These changes are driven by reductions in stamp duty discounts, with the “nil rate” band decreasing from £425,000 to £300,000 for first-time buyers and from £250,000 to £125,000 for other homebuyers. This could potentially add an extra £1.1 billion annually to government tax revenue, according to Zoopla’s estimates.

Full Article