Increase stamp duty threshold for 1st time buyers in Southern England to £400K

Background

Many people who live in Southern England facing expensive prices to pay to buy a house. First time buyer stamp duty relief are the same for both North & Southerners. Increase the first time buy Stamp Duty threshold from 300K to 400K, so buyers pay 0% stamp duty on property that is £400K and less.

Additional details

We support this as it is very hard for many to buy a decent house in the South for £300K, and this proposal of increasing the threshold for first-time buyers paying 0% stamp duty from £300K to £400K could help them to put that money elsewhere when they buy a house. The North of England is relatively cheaper when compared to towns in the South and it may be easy for people to buy a decent-sized house for £300K. Considering cost of living in South and increasing it to £400K for the first time buyers could provide a lot of relief.

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