Life has just got that bit harder for first-time buyers trying to step on to London’s housing market. From April 1, the stamp duty threshold falls from £425,000 to £300,000, well below a first-time buyer’s average spend in London.
Added to that, the price of a home eligible for first-time property relief falls from £625,000 to £500,000. Pay more and you’ll have to dig deep for standard stamp duty rates. It’s an April Fool’s joke that’s no laughing matter.
