The proportion of homes bought by first-time buyers across Great Britain reached a record high of 31.2% during 2024 according to Hamptons’ Head of Research, Aneisha Beveridge.

And, on a monthly basis, in November and December 2024, the numbers climbed even higher to 31.8%.

This increase comes, she says, in response to the announcement in the Autumn Budget that the threshold at which first-time buyers start paying Stamp Duty will fall from £425,000 to £300,000 from April 2025.

300% increase

The change is expected to more than triple the proportion of first-time buyers liable for Stamp Duty from 8% to 26%.

There’s been a particular increase in the share of first-time buyers purchasing more expensive homes who stand to save the most before Stamp Duty rises in April.  Someone purchasing their first home for £625,000 will see the biggest increase in their tax bill from April, rising by £11,250.

First-time buyers purchased a record 20.8% of £425,000+ homes sold in November and December, compared to 17.5% for the whole year and up from 14.5% in 2023.

In the last two months of 2024, 10% of first-time buyers paid more than £425,000 for their home, up from 8% for the whole of 2024.

In contrast, the share of homes sold for less than £300,000 to a first-time buyer fell to 34.1% in the last months of the year from 34.8% for the whole of 2025. These new buyers won’t see their Stamp Duty bill rise next year, therefore there’s less of a rush.

Many of those agreeing sales now find themselves cutting it fine”.

Beveridge said: “First-time buyers are making a dash for the finish line before stamp duty bills increase in April.  We’ve seen a particular uptick in purchases over £425,000, where new buyers face the biggest tax bill hikes.

She adds: “With completion times averaging around four months, many of those agreeing sales now find themselves cutting it fine.

“Someone buying a freehold house will be more likely than someone buying a flat to complete before the end of March, with leasehold conveyancing times usually adding an extra month to the sale.  The next few weeks will be crucial for those hoping to avoid higher Stamp Duty bills.”