Save on stamp duty: great homes for first-time buyers under the new threshold
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
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
Southwest Road
£290,000
One-bedroom period flat with separate kitchen and living spaces.
www.stowbrothers.com
3. West Norwood, SE27
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
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
Recreation Road
£290,000
Recently refurbished apartment on the first floor of a period conversion.
www.propertyworlduk.net