Panic begins over first time buyers’ April 2025 stamp duty deadline

Rolstons research suggests that Watford and the surrounding areas are already experiencing a rush to beat the Stamp Duty deadline in April.

The latest analysis from Rolstons reveals early signs of first-time buyers racing to beat the drop in Stamp Duty thresholds from 1 April 2025.

First-time buyer Stamp Duty relief is set to drop at the end of March 2025 from £425,000 to £300,000.

Our core areas have seen an uptick in first-time buyer demand since the Budget, suggesting some first-time buyers are rushing to avoid paying higher charges. Before the Autumn Budget, first-time buyer demand in Watford was 28% ahead of last year – now, it is 31% ahead.

According to Rightmove, in the East of England, the trend has moved from 28% to growth of 32% ahead of the same period last year since the Budget, and in the Southeast, first-time buyer demand has ticked up from 23% ahead of last year's pre-budget, to 24% ahead post-Budget. The upward trend compares with most other areas of England, except for the North East, which has seen a decline in demand since the Budget.

The portal warns that it currently takes an average of five months (151 days) to complete a property transaction across Great Britain. This means that first-time buyers hoping to find their next home and complete it before the stamp duty deadline on 1 April 2025 must act quickly and hope to beat the average time to complete a home purchase.

Paul Gillespie, Rolstons Managing Director, said: "With Stamp Duty thresholds in England lowering from April, we're seeing early signs of first-time buyers reacting. On our patch, where first-time buyers are most likely to be affected, we're seeing some pull forward their plans to try and avoid higher charges. However, the long-awaited second Bank Rate cut should boost optimism amongst movers and help to improve affordability during 2025.”

Also commenting on the research, Matthew Marchant, Rolstons Sales Director, said: "Many first-time buyers who have been waiting in the wings and analysing market conditions will certainly now be looking to take their initial step onto the housing ladder and save themselves thousands of pounds by completing before April 2025.

"Not only this but as finances start to ease in terms of interest rates and other associated home costs, more buyers are finding a middle ground in their affordability and can secure their ideal homes moving forward, making an all-around more attractive market."

If you'd like to talk to an agent for more personalised advice, our team is always available to help. We'd love to hear from you for a quick chat or a no-obligation property valuation.

Warm wishes,
The team at Rolstons