Save on stamp duty: great homes for first-time buyers under the new threshold

 (Jeremy Leaf/Rightmove)
(Jeremy Leaf/Rightmove)

In this Wednesday’s Budget, chancellor Rachel Reeves announced a number of changes to stamp duty, including lowering the threshold from £250,000 to £125,000 and £425,000 to £300,000 for first-time buyers. The higher thresholds, which were introduced under the Conservative government’s mini-Budget, will revert to previous levels from March 2025.

For those looking to buy their first home, this marks a potentially significant additional cost – one likely to rush buyers into completing sales before the deadline. For first-time buyers looking to beat stamp duty —before or after March next year— here are five London properties that conveniently sit below the new threshold.

1. Lee, SE12

 (KFH/Rightmove)
(KFH/Rightmove)

Burnt Ash Hill

£300,000

This two-bedroom flat in Lewisham is set in a period conversion, with original wooden flooring, French shuttered bay windows and high ceilings. Outside, green-fingered buyers will enjoy its generous communal gardens.

www.kfh.co.uk

2. Leytonstone, E11

 (Stow Brothers/Rightmove)
(Stow Brothers/Rightmove)

Southwest Road

£290,000

One-bedroom period flat with separate kitchen and living spaces.

www.stowbrothers.com

3. West Norwood, SE27

 (Northwood/Rightmove)
(Northwood/Rightmove)

Elderwood Place

£300,000

Garden flat in the grounds of a Grade II-listed former children’s home.

www.northwooduk.com

4. Woodside Park, N12

 (Jeremy Leaf/Rightmove)
(Jeremy Leaf/Rightmove)

Station Approach

£289,300

413 sq ft apartment in a new development with communal roof terrace and allotment beds.

www.jeremyleaf.co.uk

5. Sydenham, SE26

 (Property World/Rightmove)
(Property World/Rightmove)

Recreation Road

£290,000

Recently refurbished apartment on the first floor of a period conversion.

www.propertyworlduk.net