Rightmove has called on the government to reform stamp duty thresholds in a bid to make buying a home more affordable and support first-time buyers.
The appeal comes after stamp duty thresholds in England and Northern Ireland reverted to their previous levels on 1 April 2025. As a result, first-time buyers are now required to pay stamp duty on properties priced above £300,000, down from £425,000 under the previous rules. The £300,000 threshold for first-time buyers was set in 2017, while the £125,000 limit for other buyers was introduced as far back as 2006.
Rightmove argued that these thresholds have failed to keep pace with house price inflation, highlighting that asking prices in England have risen by 22% between 2017 and 2025.
In 2017 about 53% of properties in England were exempt from stamp duty for first-time buyers. Rightmove said that figure has now fallen to 40%, reducing the number of affordable options for those looking to get onto the housing ladder.
The group said it wants ministers to review and increase the bands at which stamp duty becomes payable, in order to restore some of the support that has been eroded by rising prices.
Rightmove suggested that raising the thresholds could help address the growing affordability gap and encourage more market activity at a time when many buyers face higher costs.
Chief executive Johan Svanstrom told the Financial Times: “Stamp duty can be a big barrier to movement, and so we want to see ways that affordability can be improved and more first-time buyers can be supported onto the housing ladder.”
Recent analysis by Twenty7tec found that changes to stamp duty have pushed almost half of first-time buyers into 90% or higher loan-to-value mortgages.
In addition, research carried out by Jackson-Stops revealed that stamp duty relief for downsizers could deliver an immediate boost to housing supply and wider economic activity.
The estate agency looked at the impact of the tax on older homeowners and found that over a fifth (22%) of over-55s never plan to downsize. However, among those who do intend to move, 15% said they would do so within the next year if stamp duty were reduced or removed on their onward purchase – the equivalent of 505,000 homes potentially released onto the market within 12 months.
Read the orginal article: https://propertyindustryeye.com/rightmove-urges-government-to-raise-stamp-duty-thresholds/
