First-time buyers rush to complete and beat stamp duty rise

First-time homebuyers in the UK are rushing to complete purchases before the stamp duty "nil rate" band decreases on April 1.
Currently, first-time buyers pay no stamp duty on the first £425,000, but this threshold will drop to £300,000. Home movers will see their zero-rate threshold halved from £250,000 to £125,000.
Government data reveals a surge in home purchases in the first two months of 2025, with February sales up 28 per cent compared to the same period last year.
Rightmove data suggests that first-time buyers in London will be disproportionately affected, as fewer properties will fall under the new £300,000 threshold.
Zoopla estimates that the proportion of first-time buyers paying stamp duty will double from 21 per cent to 42 per cent after the changes, potentially generating an additional £1.1 billion annually for the government.