A Hampshire housebuilder is advising homebuyers to be mindful of upcoming changes to Stamp Duty in April, which could increase costs for those planning to move in 2025 – even for first time buyers.

Currently, no Stamp Duty is due on properties up to £250,000. However, from 1st April 2025, the threshold will be reduced to £125,000, meaning buyers will pay 2% on the portion between £125,000 and £250,000 and 5% on the portion between £250,001 and £925,000.

Barratt David Wilson Homes Southampton division, which is currently building Forest Walk in Whiteley, say that many people were unaware of the changes which could cost them thousands.

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Tammy Bishop, Sales Director at Barratt/David Wilson Homes, said: “We encourage property seekers looking to make a move this year to consider accelerating their plans as it could mean saving thousands of pounds.

"We don't want anyone to have to compromise on their dream home."