Create a fairer stamp duty system for residential first-time buyers by introducing region-specific, tiered stamp duty thresholds based on regional housing costs, with independent review, five-year updates, and consideration of transitional relief for those affected by April 2025 changes.

We believe the current £300,000 first-time buyer Stamp Duty threshold does not reflect regional housing costs. A first-time buyer’s home may cost around £180,000 in Yorkshire compared with around £465,000 in London, meaning support varies by location. We want a tiered threshold system based on regional housing costs, reviewed every five years against inflation, house prices and affordability. This could help more people move from renting into ownership, improve housing mobility and support the wider market.