News

Stamp Duty Holiday Announced by Chancellor of the Exchequer, Rishi Sunak

Chancellor of the Exchequer, Rishi Sunak, has announced a stamp duty holiday for homebuyers starting on the day of announcement on Wednesday 8th July until 31st March 2021, meaning any purchase up to £500,000 will be exempt from paying any tax. 

See the full data set for stamp duty savings at local authority level below.

Based on the current average house price, some 96% of areas across England and Northern Ireland will now see the average homebuyer pay no stamp duty at all based in the current average house price there.

This stamp duty holiday equates to a saving of £2,465 for the average buyer in England and £312 in Northern Ireland. 

Londoners are set to save the most regionally, with previous stamp duty tax owed on the average London home (£485,794) coming in at £14,290. The North East is home to the smallest saving at £39. 

However, at local authority level, the most significant saving isn’t found in the capital in terms of paying no stamp duty at all. With a current average house price of £493,878, homebuyers in St Albans are now due to pocket a considerable £14,694 in stamp duty costs. 

Of the 16 local authorities with an average house price above £500,000, the reduction in stamp duty costs on the first £500,000 of their property purchase means a saving of £15,000. 

While the average buyer in Kensington and Chelsea will still pay an eye-watering £68,360 in stamp duty, it is at least, a slight reprieve for an area of the market that has mostly been ignored by previous initiatives.

Existing Stamp Duty Land Tax based on current thresholds of 2% between £125k to £250k, 5% between £250k-£925k, 10% between £925k and £1.5m and 12% over £1.5m. 

New Stamp Duty Land Tax based on 5% charged on £500k to £925k, 10% between £925k and £1.5m and 12% over £1.5m. 

See the full data set below:

Areas Below £500,000

LocationRegionAverage House PricePrevious Stamp Duty Owed/Saved
South NorthamptonshireEAST MIDLANDS£327,335£6,367
HarboroughEAST MIDLANDS£308,651£5,433
Derbyshire DalesEAST MIDLANDS£295,972£4,799
RutlandEAST MIDLANDS£291,359£4,568
RushcliffeEAST MIDLANDS£270,496£3,525
DaventryEAST MIDLANDS£268,379£3,419
East NorthamptonshireEAST MIDLANDS£259,410£2,970
MeltonEAST MIDLANDS£246,320£2,426
Oadby and WigstonEAST MIDLANDS£232,703£2,154
BlabyEAST MIDLANDS£230,708£2,114
CharnwoodEAST MIDLANDS£226,389£2,028
South KestevenEAST MIDLANDS£213,438£1,769
WellingboroughEAST MIDLANDS£211,433£1,729
Hinckley and BosworthEAST MIDLANDS£211,430£1,729
NorthamptonEAST MIDLANDS£211,336£1,727
North KestevenEAST MIDLANDS£210,934£1,719
High PeakEAST MIDLANDS£210,296£1,706
North West LeicestershireEAST MIDLANDS£202,260£1,545
KetteringEAST MIDLANDS£200,794£1,516
BroxtoweEAST MIDLANDS£196,420£1,428
South DerbyshireEAST MIDLANDS£196,312£1,426
North East DerbyshireEAST MIDLANDS£194,368£1,387
South HollandEAST MIDLANDS£190,142£1,303
GedlingEAST MIDLANDS£189,721£1,294
Amber ValleyEAST MIDLANDS£187,563£1,251
LeicesterEAST MIDLANDS£187,449£1,249
Newark and SherwoodEAST MIDLANDS£186,543£1,231
CorbyEAST MIDLANDS£177,927£1,059
West LindseyEAST MIDLANDS£175,068£1,001
East LindseyEAST MIDLANDS£172,844£957
ErewashEAST MIDLANDS£167,392£848
ChesterfieldEAST MIDLANDS£164,355£787
City of DerbyEAST MIDLANDS£159,056£681
LincolnEAST MIDLANDS£154,871£597
BassetlawEAST MIDLANDS£154,139£583
BostonEAST MIDLANDS£148,204£464
City of NottinghamEAST MIDLANDS£143,469£369
AshfieldEAST MIDLANDS£142,943£359
MansfieldEAST MIDLANDS£141,395£328
BolsoverEAST MIDLANDS£123,791£0
St AlbansEAST OF ENGLAND£493,878£14,694
Epping ForestEAST OF ENGLAND£451,335£12,567
HertsmereEAST OF ENGLAND£439,231£11,962
BrentwoodEAST OF ENGLAND£430,739£11,537
UttlesfordEAST OF ENGLAND£418,001£10,900
CambridgeEAST OF ENGLAND£413,236£10,662
DacorumEAST OF ENGLAND£409,308£10,465
Welwyn HatfieldEAST OF ENGLAND£404,316£10,216
East HertfordshireEAST OF ENGLAND£396,304£9,815
South CambridgeshireEAST OF ENGLAND£378,293£8,915
RochfordEAST OF ENGLAND£353,982£7,699
BroxbourneEAST OF ENGLAND£341,351£7,068
MaldonEAST OF ENGLAND£340,237£7,012
North HertfordshireEAST OF ENGLAND£338,368£6,918
WatfordEAST OF ENGLAND£334,610£6,731
ChelmsfordEAST OF ENGLAND£330,064£6,503
Castle PointEAST OF ENGLAND£319,753£5,988
Central BedfordshireEAST OF ENGLAND£314,286£5,714
BasildonEAST OF ENGLAND£307,414£5,371
BaberghEAST OF ENGLAND£299,538£4,977
East CambridgeshireEAST OF ENGLAND£294,073£4,704
StevenageEAST OF ENGLAND£289,009£4,450
Southend-on-SeaEAST OF ENGLAND£288,327£4,416
BedfordEAST OF ENGLAND£283,674£4,184
South NorfolkEAST OF ENGLAND£273,994£3,700
BraintreeEAST OF ENGLAND£272,852£3,643
ThurrockEAST OF ENGLAND£266,991£3,350
North NorfolkEAST OF ENGLAND£266,987£3,349
ColchesterEAST OF ENGLAND£264,734£3,237
HarlowEAST OF ENGLAND£262,524£3,126
West SuffolkEAST OF ENGLAND£262,446£3,122
HuntingdonshireEAST OF ENGLAND£261,319£3,066
BroadlandEAST OF ENGLAND£257,474£2,874
Mid SuffolkEAST OF ENGLAND£256,868£2,843
East SuffolkEAST OF ENGLAND£248,580£2,472
LutonEAST OF ENGLAND£229,983£2,100
BrecklandEAST OF ENGLAND£227,459£2,049
TendringEAST OF ENGLAND£220,849£1,917
King’s Lynn and West NorfolkEAST OF ENGLAND£203,625£1,573
NorwichEAST OF ENGLAND£203,473£1,569
IpswichEAST OF ENGLAND£197,722£1,454
City of PeterboroughEAST OF ENGLAND£197,118£1,442
FenlandEAST OF ENGLAND£182,549£1,151
Great YarmouthEAST OF ENGLAND£168,687£874
SouthwarkLONDON£488,610£14,430
Tower HamletsLONDON£472,662£13,633
HarrowLONDON£454,716£12,736
EalingLONDON£454,027£12,701
BrentLONDON£446,966£12,348
Waltham ForestLONDON£437,153£11,858
BromleyLONDON£430,033£11,502
LewishamLONDON£424,233£11,212
HounslowLONDON£423,042£11,152
RedbridgeLONDON£418,473£10,924
HillingdonLONDON£417,977£10,899
GreenwichLONDON£415,693£10,785
NewhamLONDON£387,326£9,366
EnfieldLONDON£386,000£9,300
SuttonLONDON£377,458£8,873
CroydonLONDON£358,356£7,918
HaveringLONDON£352,951£7,648
BexleyLONDON£331,679£6,584
Barking and DagenhamLONDON£327,136£6,357
North TynesideNORTH EAST£160,339£707
Newcastle upon TyneNORTH EAST£160,121£702
NorthumberlandNORTH EAST£152,051£541
Tyne and WearNORTH EAST£141,216£324
Stockton-on-TeesNORTH EAST£136,052£221
South TynesideNORTH EAST£132,321£146
DarlingtonNORTH EAST£131,112£122
Redcar and ClevelandNORTH EAST£126,970£39
GatesheadNORTH EAST£126,450£29
SunderlandNORTH EAST£121,212£0
MiddlesbroughNORTH EAST£119,358£0
HartlepoolNORTH EAST£104,818£0
County DurhamNORTH EAST£96,279£0
TraffordNORTH WEST£293,243£4,662
StockportNORTH WEST£240,204£2,304
South LakelandNORTH WEST£234,974£2,199
Ribble ValleyNORTH WEST£232,648£2,153
Cheshire EastNORTH WEST£228,699£2,074
Cheshire West and ChesterNORTH WEST£208,353£1,667
WarringtonNORTH WEST£195,750£1,415
EdenNORTH WEST£193,835£1,377
ChorleyNORTH WEST£187,146£1,243
BuryNORTH WEST£185,755£1,215
ManchesterNORTH WEST£184,506£1,190
West LancashireNORTH WEST£182,022£1,140
Greater ManchesterNORTH WEST£177,613£1,052
South RibbleNORTH WEST£174,886£998
FyldeNORTH WEST£171,766£935
SalfordNORTH WEST£170,058£901
WirralNORTH WEST£161,655£733
AllerdaleNORTH WEST£160,600£712
RossendaleNORTH WEST£158,450£669
SeftonNORTH WEST£156,609£632
LancasterNORTH WEST£155,468£609
TamesideNORTH WEST£153,365£567
WyreNORTH WEST£147,136£443
MerseysideNORTH WEST£144,673£393
BoltonNORTH WEST£141,910£338
RochdaleNORTH WEST£140,207£304
HaltonNORTH WEST£139,780£296
WiganNORTH WEST£139,771£295
OldhamNORTH WEST£136,101£222
CarlisleNORTH WEST£135,597£212
LiverpoolNORTH WEST£134,446£189
St HelensNORTH WEST£130,583£112
KnowsleyNORTH WEST£126,496£30
PrestonNORTH WEST£126,448£29
Blackburn with DarwenNORTH WEST£117,588£0
CopelandNORTH WEST£117,401£0
Barrow-in-FurnessNORTH WEST£114,608£0
PendleNORTH WEST£108,199£0
BlackpoolNORTH WEST£106,855£0
HyndburnNORTH WEST£102,891£0
BurnleyNORTH WEST£86,074£0
Lisburn and CastlereaghNORTHERN IRELAND£165,294£806
Ards and North DownNORTHERN IRELAND£155,795£616
Causeway Coast and GlensNORTHERN IRELAND£151,902£538
Antrim and NewtownabbeyNORTHERN IRELAND£149,949£499
Newry Mourne and DownNORTHERN IRELAND£144,595£392
BelfastNORTHERN IRELAND£138,007£260
Mid UlsterNORTHERN IRELAND£135,955£219
Fermanagh and OmaghNORTHERN IRELAND£132,163£143
Mid and East AntrimNORTHERN IRELAND£129,069£81
Derry City and StrabaneNORTHERN IRELAND£125,616£12
Armagh City Banbridge and CraigavonNORTHERN IRELAND£125,188£4
Windsor and MaidenheadSOUTH EAST£490,501£14,525
Mole ValleySOUTH EAST£488,437£14,422
GuildfordSOUTH EAST£461,574£13,079
Epsom and EwellSOUTH EAST£459,231£12,962
SevenoaksSOUTH EAST£454,103£12,705
WaverleySOUTH EAST£442,543£12,127
WinchesterSOUTH EAST£441,880£12,094
TandridgeSOUTH EAST£440,521£12,026
Tunbridge WellsSOUTH EAST£421,075£11,054
Reigate and BansteadSOUTH EAST£420,927£11,046
WokingSOUTH EAST£419,427£10,971
WokinghamSOUTH EAST£405,631£10,282
ChichesterSOUTH EAST£404,237£10,212
HartSOUTH EAST£402,548£10,127
RunnymedeSOUTH EAST£399,925£9,996
OxfordSOUTH EAST£395,746£9,787
Surrey HeathSOUTH EAST£386,470£9,324
South OxfordshireSOUTH EAST£385,639£9,282
HorshamSOUTH EAST£378,212£8,911
Tonbridge and MallingSOUTH EAST£373,567£8,678
Brighton and HoveSOUTH EAST£372,458£8,623
East HampshireSOUTH EAST£366,418£8,321
Mid SussexSOUTH EAST£360,468£8,023
SpelthorneSOUTH EAST£353,083£7,654
West BerkshireSOUTH EAST£349,282£7,464
Bracknell ForestSOUTH EAST£345,763£7,288
Vale of White HorseSOUTH EAST£341,993£7,100
New ForestSOUTH EAST£339,640£6,982
WealdenSOUTH EAST£328,800£6,440
LewesSOUTH EAST£323,460£6,173
West OxfordshireSOUTH EAST£321,403£6,070
GraveshamSOUTH EAST£321,057£6,053
Test ValleySOUTH EAST£319,963£5,998
AdurSOUTH EAST£314,710£5,736
CanterburySOUTH EAST£298,219£4,911
SloughSOUTH EAST£296,738£4,837
AshfordSOUTH EAST£296,129£4,806
CherwellSOUTH EAST£295,602£4,780
FarehamSOUTH EAST£295,434£4,772
ArunSOUTH EAST£293,268£4,663
MaidstoneSOUTH EAST£293,072£4,654
DartfordSOUTH EAST£292,213£4,611
Basingstoke and DeaneSOUTH EAST£291,205£4,560
EastleighSOUTH EAST£290,453£4,523
CrawleySOUTH EAST£285,725£4,286
WorthingSOUTH EAST£283,811£4,191
RotherSOUTH EAST£280,884£4,044
ReadingSOUTH EAST£276,130£3,807
RushmoorSOUTH EAST£270,423£3,521
Folkestone and HytheSOUTH EAST£266,874£3,344
Milton KeynesSOUTH EAST£264,268£3,213
HavantSOUTH EAST£259,563£2,978
MedwaySOUTH EAST£246,550£2,431
EastbourneSOUTH EAST£244,536£2,391
DoverSOUTH EAST£243,833£2,377
ThanetSOUTH EAST£234,375£2,187
SwaleSOUTH EAST£234,096£2,182
GosportSOUTH EAST£218,452£1,869
Isle of WightSOUTH EAST£216,133£1,823
HastingsSOUTH EAST£215,117£1,802
PortsmouthSOUTH EAST£206,572£1,631
SouthamptonSOUTH EAST£199,660£1,493
CotswoldSOUTH WEST£386,269£9,313
Bath and North East SomersetSOUTH WEST£346,379£7,319
South HamsSOUTH WEST£315,217£5,761
East DevonSOUTH WEST£303,888£5,194
StroudSOUTH WEST£295,487£4,774
City of BristolSOUTH WEST£285,268£4,263
DorsetSOUTH WEST£285,051£4,253
Bournemouth, Christchurch and PooleSOUTH WEST£283,469£4,173
CheltenhamSOUTH WEST£282,810£4,140
TewkesburySOUTH WEST£277,713£3,886
South GloucestershireSOUTH WEST£275,864£3,793
MendipSOUTH WEST£273,800£3,690
WiltshireSOUTH WEST£272,870£3,644
North DevonSOUTH WEST£263,864£3,193
ExeterSOUTH WEST£261,164£3,058
North SomersetSOUTH WEST£257,948£2,897
TeignbridgeSOUTH WEST£250,347£2,517
Somerset West and TauntonSOUTH WEST£249,324£2,486
West DevonSOUTH WEST£242,212£2,344
Forest of DeanSOUTH WEST£241,156£2,323
Mid DevonSOUTH WEST£240,967£2,319
CornwallSOUTH WEST£238,854£2,277
SedgemoorSOUTH WEST£235,759£2,215
TorridgeSOUTH WEST£229,538£2,091
South SomersetSOUTH WEST£228,632£2,073
SwindonSOUTH WEST£218,551£1,871
TorbaySOUTH WEST£214,188£1,784
GloucesterSOUTH WEST£199,986£1,500
City of PlymouthSOUTH WEST£178,868£1,077
Stratford-on-AvonWEST MIDLANDS£329,688£6,484
WarwickWEST MIDLANDS£311,723£5,586
BromsgroveWEST MIDLANDS£295,330£4,767
SolihullWEST MIDLANDS£290,946£4,547
WychavonWEST MIDLANDS£281,220£4,061
Malvern HillsWEST MIDLANDS£271,486£3,574
LichfieldWEST MIDLANDS£256,029£2,801
HerefordshireWEST MIDLANDS£239,611£2,292
RugbyWEST MIDLANDS£232,626£2,153
South StaffordshireWEST MIDLANDS£223,319£1,966
Wyre ForestWEST MIDLANDS£221,556£1,931
ShropshireWEST MIDLANDS£216,906£1,838
WorcesterWEST MIDLANDS£212,243£1,745
RedditchWEST MIDLANDS£206,785£1,636
StaffordWEST MIDLANDS£205,851£1,617
North WarwickshireWEST MIDLANDS£194,818£1,396
TamworthWEST MIDLANDS£193,812£1,376
CoventryWEST MIDLANDS£191,089£1,322
Staffordshire MoorlandsWEST MIDLANDS£190,664£1,313
West MidlandsWEST MIDLANDS£186,868£1,237
BirminghamWEST MIDLANDS£185,499£1,210
Nuneaton and BedworthWEST MIDLANDS£181,011£1,120
East StaffordshireWEST MIDLANDS£178,009£1,060
Telford and WrekinWEST MIDLANDS£176,621£1,032
DudleyWEST MIDLANDS£173,039£961
Cannock ChaseWEST MIDLANDS£168,916£878
WalsallWEST MIDLANDS£167,068£841
SandwellWEST MIDLANDS£164,427£789
WolverhamptonWEST MIDLANDS£160,862£717
Newcastle-under-LymeWEST MIDLANDS£154,685£594
Stoke-on-TrentWEST MIDLANDS£106,203£0
HarrogateYORKSHIRE AND THE HUMBER£304,321£5,216
YorkYORKSHIRE AND THE HUMBER£257,398£2,870
HambletonYORKSHIRE AND THE HUMBER£234,070£2,181
RichmondshireYORKSHIRE AND THE HUMBER£233,658£2,173
RyedaleYORKSHIRE AND THE HUMBER£228,907£2,078
CravenYORKSHIRE AND THE HUMBER£207,074£1,641
SelbyYORKSHIRE AND THE HUMBER£196,671£1,433
LeedsYORKSHIRE AND THE HUMBER£183,707£1,174
East Riding of YorkshireYORKSHIRE AND THE HUMBER£181,382£1,128
ScarboroughYORKSHIRE AND THE HUMBER£174,165£983
SheffieldYORKSHIRE AND THE HUMBER£167,332£847
West YorkshireYORKSHIRE AND THE HUMBER£157,877£658
WakefieldYORKSHIRE AND THE HUMBER£153,037£561
KirkleesYORKSHIRE AND THE HUMBER£151,929£539
CalderdaleYORKSHIRE AND THE HUMBER£149,192£484
North LincolnshireYORKSHIRE AND THE HUMBER£143,682£374
South YorkshireYORKSHIRE AND THE HUMBER£142,630£353
RotherhamYORKSHIRE AND THE HUMBER£133,759£175
BradfordYORKSHIRE AND THE HUMBER£131,633£133
DoncasterYORKSHIRE AND THE HUMBER£127,974£59
North East LincolnshireYORKSHIRE AND THE HUMBER£123,059£0
BarnsleyYORKSHIRE AND THE HUMBER£122,136£0
City of Kingston upon HullYORKSHIRE AND THE HUMBER£115,298£0

Areas Above £500,000

LocationAverage House PricePrevious Stamp Duty OwedNew Stamp Duty OwedSaving with SDLT holiday
Kensington and Chelsea£1,396,102£83,360£68,360£15,000
City of Westminster£1,085,013£52,251£37,251£15,000
Camden£881,096£34,055£19,055£15,000
City of London£792,583£29,629£14,629£15,000
Hammersmith and Fulham£747,174£27,359£12,359£15,000
Hackney£638,683£21,934£6,934£15,000
Richmond upon Thames£633,481£21,674£6,674£15,000
Islington£632,270£21,613£6,614£15,000
Wandsworth£624,858£21,243£6,243£15,000
Elmbridge£577,202£18,860£3,860£15,000
Haringey£565,343£18,267£3,267£15,000
Barnet£532,569£16,628£1,628£15,000
Lambeth£525,487£16,274£1,274£15,000
Three Rivers£512,054£15,603£603£15,000
Merton£509,252£15,463£463£15,000
Kingston upon Thames£506,000£15,300£300£15,000

Source: Property Notify & Barrows Forrester