The UK first-time buyer property market will continue to benefit from the stamp duty exception.

First-time buyers have a good point.

Most of the property market will remain stamp duty-free for first-time buyers, even after the current vacation extension expires, according to Ascend Properties.

While all residential transactions do not currently enjoy stamp duty due on purchases up to £ 500,000, this benefit will remain in effect for first-time buyers purchasing up to £ 300,000 beyond the final September limit.

Ascend Properties analyzed current average home prices for first-time buyers in England and found that, as a result, a very substantial proportion of the market will remain free of stamp duty even after the term expires.

The average first-time buyer in England currently pays £ 221,743 to climb one foot on the ladder, well below the threshold of £ 300,000.

Regionally, there is only one area of ​​the market where first-time buyers will say goodbye to a stamp duty-free purchase when the current holiday deadline ends. That is, of course, London, where the average first-time buyer currently pays £ 433,631 to climb the ladder. However, they will still benefit from a reduced level of tax on purchases up to the £ 500,000 mark.

In terms of overall affordability, the Northeast ranks first with the median first-time home price of just £ 118,118, alongside the Yorkshire and the Humber (£ 152,827) and the Northwest (£ 155,088).

By analyzing the market at the local authority level, Ascend’s research also shows that there is little need to seal a panic on the deadline for those taking their first step up the property ladder.

79% of all local authorities in England have an average first-time home price that falls below the £ 300,000 stamp duty-free threshold.

Once again, the north offers some of the highest overall affordability with first-time buyers in Burnley (£ 90,048), Hartlepool (£ 90,882), and County Durham (£ 97,388) paying the lowest price when buying their first home.

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