ONE-QUARTER of first-time buyers in Scotland have benefited from a temporary increase in stamp duty, according to new figures.
An estimated 7100 people bought properties for between £125,000 and £250,000 after the threshold was increased in April 2010. It means that 30,500 buyers – representing 99% of first-time buyers in Scotland – have paid to own their first property without having to pay any stamp duty.
South of the Border the impact was much higher, with around seven in 10 buyers in London and the south-east not having to pay the 1% charge as a result of the change. It means that reintroducing the 1% fee for properties between £125,000 and £250,000 will have a bigger impact on buyers in England.
In Scotland, while 76% of first-time buyers will still be exempt from paying stamp duty, only 4% of their counterparts in Greater London will be able to purchase their first property while avoiding the same payment.
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