We feel that the change to the stamp duty threshold is an added burden for first time buyers who have been saving for a long time. We want the government to consider an extension of the £425,000 threshold, and to push the dates for reducing exemption to a few more months.
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We feel it's a significant burden for first time buyers of around £6250, as the stamp duty threshold goes from £425,000 down to £300,000.
We believe this would take a few years to save and may push families away from buying homes in 2025.
We also think it is difficult to buy a home for £300,000 with less burden of stamp duty in south of England.