Over half of all properties exempt from stamp duty

Scotland is home to the highest percentage of properties exempt from its stamp duty.

Over half of all properties exempt from stamp duty

Over half (59%) of all UK properties for sale over the past year were exempt from paying any type of transactional tax for first-time buyers, property portal Zoopla has found.

In England the threshold for stamp duty is £300,00, for Scotland the threshold for land and buildings transaction tax (LBTT) is £175,000 and in Wales the threshold for land transaction tax is £180,000.

Zoopla’s analysis highlights that Scotland is home to the highest percentage of properties (61%) that are exempt from LBTT, compared to 58% of homes in England being exempt from stamp duty.

Some 56% of residential property in Wales is exempt from land transaction tax.

Laura Howard, spokesperson for Zoopla, said: “Our recent research revealed that first-time buyers are set to be the largest buyer group of 2019 - and indications are that many have been bolstered by the SDLT relief that applies to a typically-priced, entry level property.

“59% of all homes currently for sale are exempt from stamp duty- or its country’s equivalent.

“This is certainly unlocking the prospect of homeownership for many first-time buyers, who might otherwise struggle to gather enough cash to cover all the upfront costs.

“First-time buyers are new to the buying process, so agents have a key role to play in providing helpful information on the transaction process, and by making the stamp duty thresholds clear – it could help to build a trusted agent-buyer relationship that will last for years to come.”

In England, the towns of Bootle in Merseyside and Shildon in County Durham are where first-time buyers are least likely to pay any stamp duty.

Beaconsfield in Buckinghamshire has the fewest amount of properties where first-time buyers are exempt from paying stamp duty.

Just 1.7% of homes available in the town were priced under the tax threshold.

In London, Croydon was in first place for stamp duty exemption and partial relief as 26.8% of homes were for sale for under £300,000 across the 12 months.