First-time buyers rush to complete purchases ahead of stamp duty increase

As first-time buyers scramble to complete their property purchases before the upcoming stamp duty increase, many express urgency driven by the imminent April 1 deadline.

The proposed reduction in the stamp duty exemption threshold has significant implications, especially in high-priced areas where only 8% of homes in London will remain exempt.

Historical trends show that past stamp duty changes often resulted in spikes in transactions as buyers hurried to close deals ahead of looming deadlines.

Despite the increased demand, the usual longer timeframe for completing property transactions means many first-time buyers may struggle to finalize their purchases in time.

Read at Business Matters