The Chancellor has announced that stamp duty is to be abolished for all first time buyers on properties bought up to £300,000, effective from today. In addition, first time buyers purchasing properties up to £500,000 will pay no stamp duty on the first £300,000.
In his Budget, Philip Hammond announced that 80% of first time buyers would pay no stamp duty at all. With 358,000 first time buyers in the last year, this means that at least 24% of all sales in the UK’s housing market are set to be charged 0% tax. Once other exempt sales under £125,000 are taken into account, this figure will be even higher.
Two thirds of properties bought so far this year across the country have been under the new threshold but there are large regional variations. In Wales and the North East, over 90% of sales in the last year have been over £300,000 while just 17% of sales in London were for less than £300,000.
While good news for first-time buyers, this will further squeeze investors in the sub-£500,000 market who are already suffering from increased taxes. What's more, it does not, give any encouragement to owners higher up the chain to downsize.
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Is Britain truly unaffordable? We searched the country to find the best buys on the property market for you – and the homes all come with more than a friendly price tag!
Take a look at our top 20 homes for sale that can be yours from just £50,000.
Calne, Wiltshire - £165,000
The delightful semi-detached house offers easy access to schools, sports facilities and walks in the nearby Bowood Estate.
Caerleon, Newport, Wales - £160,000
This charismatic semi-detached house is conveniently located in the close proximity of well-known local schools, making it an ideal family home.
Wilberfoss, York - £99,950
This beautiful, modern timber lodge with gorgeous decking area and immaculate interior, set in the popular development at Florida Keys Park, surprisingly doesn’t come with the usual eye-watering price tag.
Wallsend, Newcastle - £100,000
If you’re after a fully renovated property in the North East with a generous piece of land, you don’t need to look any further. And what’s more, this house will be yours at a highly reasonable price.
Ipswich, Suffolk - £140,000
This 2014 two bedroom park home benefits from a convenient location only a short drive from the A14 and the town of Ipswich. Plus, it has a lovely, well-proportioned and modern interior.
Humberston Fitties, Lincolnshire - £59,950
If you’re looking for a home with the all year round holiday feel, then this two bedroom chalet located in the charming seaside resort is the perfect choice for you.
Haverhill, Cambridgeshire - £132,500
Located on the Cambridge side of Haverhill, this two-bedroom maisonette comes with off-road parking and spacious front and rear gardens, perfect for those summertime barbeques.
Tilbury, Essex - £180,000
Dreaming about a big house with a large piece of land and potential to extend? Then this three bedroom end of terrace house in Essex is exactly what you’re looking for.
Moorland Gardens Newport, Wales- £129,950
Get your hands on this townhouse at the bargain price of just under 130k. The location is ideal for families with young children since the local school is just a stone’s throw away from the front door.
Bridgwater, Somerset - £89,950
A great property for a first time buy or as an investment opportunity, this two-bedroom, second floor flat is set in a popular Somerset market town.
Considering its handy location with close proximity to local amenities and commuter routes, this two bedroom family house is on the market for a truly tempting price.
Scunthorpe, Lincolnshire - £69,950
This three bedroom semi-detached house located in the industrial Scunthorpe can be yours for a mere £69,950, a bargain price considering its convenient access to schools, town centre and hospital.
Bootle, Liverpool - £79,999
An ideal family home, the property boasts three bedrooms and an enclosed courtyard. What’s more, it is located in a prime residential area with access to schools, shops and restaurants.
Chatteris, Cambridgeshire - £115,000
Who said you can’t buy a beautiful property on a budget in Cambridgeshire? Here’s a modern, two bedroom terrace house overlooking a pleasant green to the front.
High Peak, Cheshire - £139,000
You can find this traditional two bedroom terraced house in a residential location close to the Sett Valley trail. The property is situated only a short distance from the town centre, offering a choice of restaurants, shops, school and readily available transport links to many major places of work.
Leedstown, Cornwall - £139,950
Priced to sell, this four bedroom semi-detached house is located in the popular village of Leedstown, which has a range of amenities and is within approximately a 20 minute drive of a number of towns.
Ipswich, Suffolk - £160,000
With off-road parking, a garage and a decent garden, this three bedroom property in the south of Ipswich is only a short distance from local shops and amenities.
Stanford-Le-Hope, Essex - £200,000
Located on the ever popular 'Homestead' is this spacious three bedroom semi-detached home that also comes with an off-road parking, a garage and a good sized rear garden.
Disley, Cheshire - £200,000
This impressive three bedroom house has a beautiful green expanse at the front and boasts a well maintained garden to the back. It is perfect for families with children.
Windmill Hill, Runcorn, Cheshire - £79,500
This fully refurbished, four bedroom mid-town house with expansive landscaped gardens will set you back less than £80k – pleasantly affordable for the industrial town and port, Runcorn.
*All properties for sale at the time of publication
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