News

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

Posted on 10th July 2020

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

Location	Region	Average House Price	Previous Stamp Duty Owed/Saved
South Northamptonshire	EAST MIDLANDS	£327,335	£6,367
Harborough	EAST MIDLANDS	£308,651	£5,433
Derbyshire Dales	EAST MIDLANDS	£295,972	£4,799
Rutland	EAST MIDLANDS	£291,359	£4,568
Rushcliffe	EAST MIDLANDS	£270,496	£3,525
Daventry	EAST MIDLANDS	£268,379	£3,419
East Northamptonshire	EAST MIDLANDS	£259,410	£2,970
Melton	EAST MIDLANDS	£246,320	£2,426
Oadby and Wigston	EAST MIDLANDS	£232,703	£2,154
Blaby	EAST MIDLANDS	£230,708	£2,114
Charnwood	EAST MIDLANDS	£226,389	£2,028
South Kesteven	EAST MIDLANDS	£213,438	£1,769
Wellingborough	EAST MIDLANDS	£211,433	£1,729
Hinckley and Bosworth	EAST MIDLANDS	£211,430	£1,729
Northampton	EAST MIDLANDS	£211,336	£1,727
North Kesteven	EAST MIDLANDS	£210,934	£1,719
High Peak	EAST MIDLANDS	£210,296	£1,706
North West Leicestershire	EAST MIDLANDS	£202,260	£1,545
Kettering	EAST MIDLANDS	£200,794	£1,516
Broxtowe	EAST MIDLANDS	£196,420	£1,428
South Derbyshire	EAST MIDLANDS	£196,312	£1,426
North East Derbyshire	EAST MIDLANDS	£194,368	£1,387
South Holland	EAST MIDLANDS	£190,142	£1,303
Gedling	EAST MIDLANDS	£189,721	£1,294
Amber Valley	EAST MIDLANDS	£187,563	£1,251
Leicester	EAST MIDLANDS	£187,449	£1,249
Newark and Sherwood	EAST MIDLANDS	£186,543	£1,231
Corby	EAST MIDLANDS	£177,927	£1,059
West Lindsey	EAST MIDLANDS	£175,068	£1,001
East Lindsey	EAST MIDLANDS	£172,844	£957
Erewash	EAST MIDLANDS	£167,392	£848
Chesterfield	EAST MIDLANDS	£164,355	£787
City of Derby	EAST MIDLANDS	£159,056	£681
Lincoln	EAST MIDLANDS	£154,871	£597
Bassetlaw	EAST MIDLANDS	£154,139	£583
Boston	EAST MIDLANDS	£148,204	£464
City of Nottingham	EAST MIDLANDS	£143,469	£369
Ashfield	EAST MIDLANDS	£142,943	£359
Mansfield	EAST MIDLANDS	£141,395	£328
Bolsover	EAST MIDLANDS	£123,791	£0
St Albans	EAST OF ENGLAND	£493,878	£14,694
Epping Forest	EAST OF ENGLAND	£451,335	£12,567
Hertsmere	EAST OF ENGLAND	£439,231	£11,962
Brentwood	EAST OF ENGLAND	£430,739	£11,537
Uttlesford	EAST OF ENGLAND	£418,001	£10,900
Cambridge	EAST OF ENGLAND	£413,236	£10,662
Dacorum	EAST OF ENGLAND	£409,308	£10,465
Welwyn Hatfield	EAST OF ENGLAND	£404,316	£10,216
East Hertfordshire	EAST OF ENGLAND	£396,304	£9,815
South Cambridgeshire	EAST OF ENGLAND	£378,293	£8,915
Rochford	EAST OF ENGLAND	£353,982	£7,699
Broxbourne	EAST OF ENGLAND	£341,351	£7,068
Maldon	EAST OF ENGLAND	£340,237	£7,012
North Hertfordshire	EAST OF ENGLAND	£338,368	£6,918
Watford	EAST OF ENGLAND	£334,610	£6,731
Chelmsford	EAST OF ENGLAND	£330,064	£6,503
Castle Point	EAST OF ENGLAND	£319,753	£5,988
Central Bedfordshire	EAST OF ENGLAND	£314,286	£5,714
Basildon	EAST OF ENGLAND	£307,414	£5,371
Babergh	EAST OF ENGLAND	£299,538	£4,977
East Cambridgeshire	EAST OF ENGLAND	£294,073	£4,704
Stevenage	EAST OF ENGLAND	£289,009	£4,450
Southend-on-Sea	EAST OF ENGLAND	£288,327	£4,416
Bedford	EAST OF ENGLAND	£283,674	£4,184
South Norfolk	EAST OF ENGLAND	£273,994	£3,700
Braintree	EAST OF ENGLAND	£272,852	£3,643
Thurrock	EAST OF ENGLAND	£266,991	£3,350
North Norfolk	EAST OF ENGLAND	£266,987	£3,349
Colchester	EAST OF ENGLAND	£264,734	£3,237
Harlow	EAST OF ENGLAND	£262,524	£3,126
West Suffolk	EAST OF ENGLAND	£262,446	£3,122
Huntingdonshire	EAST OF ENGLAND	£261,319	£3,066
Broadland	EAST OF ENGLAND	£257,474	£2,874
Mid Suffolk	EAST OF ENGLAND	£256,868	£2,843
East Suffolk	EAST OF ENGLAND	£248,580	£2,472
Luton	EAST OF ENGLAND	£229,983	£2,100
Breckland	EAST OF ENGLAND	£227,459	£2,049
Tendring	EAST OF ENGLAND	£220,849	£1,917
King’s Lynn and West Norfolk	EAST OF ENGLAND	£203,625	£1,573
Norwich	EAST OF ENGLAND	£203,473	£1,569
Ipswich	EAST OF ENGLAND	£197,722	£1,454
City of Peterborough	EAST OF ENGLAND	£197,118	£1,442
Fenland	EAST OF ENGLAND	£182,549	£1,151
Great Yarmouth	EAST OF ENGLAND	£168,687	£874
Southwark	LONDON	£488,610	£14,430
Tower Hamlets	LONDON	£472,662	£13,633
Harrow	LONDON	£454,716	£12,736
Ealing	LONDON	£454,027	£12,701
Brent	LONDON	£446,966	£12,348
Waltham Forest	LONDON	£437,153	£11,858
Bromley	LONDON	£430,033	£11,502
Lewisham	LONDON	£424,233	£11,212
Hounslow	LONDON	£423,042	£11,152
Redbridge	LONDON	£418,473	£10,924
Hillingdon	LONDON	£417,977	£10,899
Greenwich	LONDON	£415,693	£10,785
Newham	LONDON	£387,326	£9,366
Enfield	LONDON	£386,000	£9,300
Sutton	LONDON	£377,458	£8,873
Croydon	LONDON	£358,356	£7,918
Havering	LONDON	£352,951	£7,648
Bexley	LONDON	£331,679	£6,584
Barking and Dagenham	LONDON	£327,136	£6,357
North Tyneside	NORTH EAST	£160,339	£707
Newcastle upon Tyne	NORTH EAST	£160,121	£702
Northumberland	NORTH EAST	£152,051	£541
Tyne and Wear	NORTH EAST	£141,216	£324
Stockton-on-Tees	NORTH EAST	£136,052	£221
South Tyneside	NORTH EAST	£132,321	£146
Darlington	NORTH EAST	£131,112	£122
Redcar and Cleveland	NORTH EAST	£126,970	£39
Gateshead	NORTH EAST	£126,450	£29
Sunderland	NORTH EAST	£121,212	£0
Middlesbrough	NORTH EAST	£119,358	£0
Hartlepool	NORTH EAST	£104,818	£0
County Durham	NORTH EAST	£96,279	£0
Trafford	NORTH WEST	£293,243	£4,662
Stockport	NORTH WEST	£240,204	£2,304
South Lakeland	NORTH WEST	£234,974	£2,199
Ribble Valley	NORTH WEST	£232,648	£2,153
Cheshire East	NORTH WEST	£228,699	£2,074
Cheshire West and Chester	NORTH WEST	£208,353	£1,667
Warrington	NORTH WEST	£195,750	£1,415
Eden	NORTH WEST	£193,835	£1,377
Chorley	NORTH WEST	£187,146	£1,243
Bury	NORTH WEST	£185,755	£1,215
Manchester	NORTH WEST	£184,506	£1,190
West Lancashire	NORTH WEST	£182,022	£1,140
Greater Manchester	NORTH WEST	£177,613	£1,052
South Ribble	NORTH WEST	£174,886	£998
Fylde	NORTH WEST	£171,766	£935
Salford	NORTH WEST	£170,058	£901
Wirral	NORTH WEST	£161,655	£733
Allerdale	NORTH WEST	£160,600	£712
Rossendale	NORTH WEST	£158,450	£669
Sefton	NORTH WEST	£156,609	£632
Lancaster	NORTH WEST	£155,468	£609
Tameside	NORTH WEST	£153,365	£567
Wyre	NORTH WEST	£147,136	£443
Merseyside	NORTH WEST	£144,673	£393
Bolton	NORTH WEST	£141,910	£338
Rochdale	NORTH WEST	£140,207	£304
Halton	NORTH WEST	£139,780	£296
Wigan	NORTH WEST	£139,771	£295
Oldham	NORTH WEST	£136,101	£222
Carlisle	NORTH WEST	£135,597	£212
Liverpool	NORTH WEST	£134,446	£189
St Helens	NORTH WEST	£130,583	£112
Knowsley	NORTH WEST	£126,496	£30
Preston	NORTH WEST	£126,448	£29
Blackburn with Darwen	NORTH WEST	£117,588	£0
Copeland	NORTH WEST	£117,401	£0
Barrow-in-Furness	NORTH WEST	£114,608	£0
Pendle	NORTH WEST	£108,199	£0
Blackpool	NORTH WEST	£106,855	£0
Hyndburn	NORTH WEST	£102,891	£0
Burnley	NORTH WEST	£86,074	£0
Lisburn and Castlereagh	NORTHERN IRELAND	£165,294	£806
Ards and North Down	NORTHERN IRELAND	£155,795	£616
Causeway Coast and Glens	NORTHERN IRELAND	£151,902	£538
Antrim and Newtownabbey	NORTHERN IRELAND	£149,949	£499
Newry Mourne and Down	NORTHERN IRELAND	£144,595	£392
Belfast	NORTHERN IRELAND	£138,007	£260
Mid Ulster	NORTHERN IRELAND	£135,955	£219
Fermanagh and Omagh	NORTHERN IRELAND	£132,163	£143
Mid and East Antrim	NORTHERN IRELAND	£129,069	£81
Derry City and Strabane	NORTHERN IRELAND	£125,616	£12
Armagh City Banbridge and Craigavon	NORTHERN IRELAND	£125,188	£4
Windsor and Maidenhead	SOUTH EAST	£490,501	£14,525
Mole Valley	SOUTH EAST	£488,437	£14,422
Guildford	SOUTH EAST	£461,574	£13,079
Epsom and Ewell	SOUTH EAST	£459,231	£12,962
Sevenoaks	SOUTH EAST	£454,103	£12,705
Waverley	SOUTH EAST	£442,543	£12,127
Winchester	SOUTH EAST	£441,880	£12,094
Tandridge	SOUTH EAST	£440,521	£12,026
Tunbridge Wells	SOUTH EAST	£421,075	£11,054
Reigate and Banstead	SOUTH EAST	£420,927	£11,046
Woking	SOUTH EAST	£419,427	£10,971
Wokingham	SOUTH EAST	£405,631	£10,282
Chichester	SOUTH EAST	£404,237	£10,212
Hart	SOUTH EAST	£402,548	£10,127
Runnymede	SOUTH EAST	£399,925	£9,996
Oxford	SOUTH EAST	£395,746	£9,787
Surrey Heath	SOUTH EAST	£386,470	£9,324
South Oxfordshire	SOUTH EAST	£385,639	£9,282
Horsham	SOUTH EAST	£378,212	£8,911
Tonbridge and Malling	SOUTH EAST	£373,567	£8,678
Brighton and Hove	SOUTH EAST	£372,458	£8,623
East Hampshire	SOUTH EAST	£366,418	£8,321
Mid Sussex	SOUTH EAST	£360,468	£8,023
Spelthorne	SOUTH EAST	£353,083	£7,654
West Berkshire	SOUTH EAST	£349,282	£7,464
Bracknell Forest	SOUTH EAST	£345,763	£7,288
Vale of White Horse	SOUTH EAST	£341,993	£7,100
New Forest	SOUTH EAST	£339,640	£6,982
Wealden	SOUTH EAST	£328,800	£6,440
Lewes	SOUTH EAST	£323,460	£6,173
West Oxfordshire	SOUTH EAST	£321,403	£6,070
Gravesham	SOUTH EAST	£321,057	£6,053
Test Valley	SOUTH EAST	£319,963	£5,998
Adur	SOUTH EAST	£314,710	£5,736
Canterbury	SOUTH EAST	£298,219	£4,911
Slough	SOUTH EAST	£296,738	£4,837
Ashford	SOUTH EAST	£296,129	£4,806
Cherwell	SOUTH EAST	£295,602	£4,780
Fareham	SOUTH EAST	£295,434	£4,772
Arun	SOUTH EAST	£293,268	£4,663
Maidstone	SOUTH EAST	£293,072	£4,654
Dartford	SOUTH EAST	£292,213	£4,611
Basingstoke and Deane	SOUTH EAST	£291,205	£4,560
Eastleigh	SOUTH EAST	£290,453	£4,523
Crawley	SOUTH EAST	£285,725	£4,286
Worthing	SOUTH EAST	£283,811	£4,191
Rother	SOUTH EAST	£280,884	£4,044
Reading	SOUTH EAST	£276,130	£3,807
Rushmoor	SOUTH EAST	£270,423	£3,521
Folkestone and Hythe	SOUTH EAST	£266,874	£3,344
Milton Keynes	SOUTH EAST	£264,268	£3,213
Havant	SOUTH EAST	£259,563	£2,978
Medway	SOUTH EAST	£246,550	£2,431
Eastbourne	SOUTH EAST	£244,536	£2,391
Dover	SOUTH EAST	£243,833	£2,377
Thanet	SOUTH EAST	£234,375	£2,187
Swale	SOUTH EAST	£234,096	£2,182
Gosport	SOUTH EAST	£218,452	£1,869
Isle of Wight	SOUTH EAST	£216,133	£1,823
Hastings	SOUTH EAST	£215,117	£1,802
Portsmouth	SOUTH EAST	£206,572	£1,631
Southampton	SOUTH EAST	£199,660	£1,493
Cotswold	SOUTH WEST	£386,269	£9,313
Bath and North East Somerset	SOUTH WEST	£346,379	£7,319
South Hams	SOUTH WEST	£315,217	£5,761
East Devon	SOUTH WEST	£303,888	£5,194
Stroud	SOUTH WEST	£295,487	£4,774
City of Bristol	SOUTH WEST	£285,268	£4,263
Dorset	SOUTH WEST	£285,051	£4,253
Bournemouth, Christchurch and Poole	SOUTH WEST	£283,469	£4,173
Cheltenham	SOUTH WEST	£282,810	£4,140
Tewkesbury	SOUTH WEST	£277,713	£3,886
South Gloucestershire	SOUTH WEST	£275,864	£3,793
Mendip	SOUTH WEST	£273,800	£3,690
Wiltshire	SOUTH WEST	£272,870	£3,644
North Devon	SOUTH WEST	£263,864	£3,193
Exeter	SOUTH WEST	£261,164	£3,058
North Somerset	SOUTH WEST	£257,948	£2,897
Teignbridge	SOUTH WEST	£250,347	£2,517
Somerset West and Taunton	SOUTH WEST	£249,324	£2,486
West Devon	SOUTH WEST	£242,212	£2,344
Forest of Dean	SOUTH WEST	£241,156	£2,323
Mid Devon	SOUTH WEST	£240,967	£2,319
Cornwall	SOUTH WEST	£238,854	£2,277
Sedgemoor	SOUTH WEST	£235,759	£2,215
Torridge	SOUTH WEST	£229,538	£2,091
South Somerset	SOUTH WEST	£228,632	£2,073
Swindon	SOUTH WEST	£218,551	£1,871
Torbay	SOUTH WEST	£214,188	£1,784
Gloucester	SOUTH WEST	£199,986	£1,500
City of Plymouth	SOUTH WEST	£178,868	£1,077
Stratford-on-Avon	WEST MIDLANDS	£329,688	£6,484
Warwick	WEST MIDLANDS	£311,723	£5,586
Bromsgrove	WEST MIDLANDS	£295,330	£4,767
Solihull	WEST MIDLANDS	£290,946	£4,547
Wychavon	WEST MIDLANDS	£281,220	£4,061
Malvern Hills	WEST MIDLANDS	£271,486	£3,574
Lichfield	WEST MIDLANDS	£256,029	£2,801
Herefordshire	WEST MIDLANDS	£239,611	£2,292
Rugby	WEST MIDLANDS	£232,626	£2,153
South Staffordshire	WEST MIDLANDS	£223,319	£1,966
Wyre Forest	WEST MIDLANDS	£221,556	£1,931
Shropshire	WEST MIDLANDS	£216,906	£1,838
Worcester	WEST MIDLANDS	£212,243	£1,745
Redditch	WEST MIDLANDS	£206,785	£1,636
Stafford	WEST MIDLANDS	£205,851	£1,617
North Warwickshire	WEST MIDLANDS	£194,818	£1,396
Tamworth	WEST MIDLANDS	£193,812	£1,376
Coventry	WEST MIDLANDS	£191,089	£1,322
Staffordshire Moorlands	WEST MIDLANDS	£190,664	£1,313
West Midlands	WEST MIDLANDS	£186,868	£1,237
Birmingham	WEST MIDLANDS	£185,499	£1,210
Nuneaton and Bedworth	WEST MIDLANDS	£181,011	£1,120
East Staffordshire	WEST MIDLANDS	£178,009	£1,060
Telford and Wrekin	WEST MIDLANDS	£176,621	£1,032
Dudley	WEST MIDLANDS	£173,039	£961
Cannock Chase	WEST MIDLANDS	£168,916	£878
Walsall	WEST MIDLANDS	£167,068	£841
Sandwell	WEST MIDLANDS	£164,427	£789
Wolverhampton	WEST MIDLANDS	£160,862	£717
Newcastle-under-Lyme	WEST MIDLANDS	£154,685	£594
Stoke-on-Trent	WEST MIDLANDS	£106,203	£0
Harrogate	YORKSHIRE AND THE HUMBER	£304,321	£5,216
York	YORKSHIRE AND THE HUMBER	£257,398	£2,870
Hambleton	YORKSHIRE AND THE HUMBER	£234,070	£2,181
Richmondshire	YORKSHIRE AND THE HUMBER	£233,658	£2,173
Ryedale	YORKSHIRE AND THE HUMBER	£228,907	£2,078
Craven	YORKSHIRE AND THE HUMBER	£207,074	£1,641
Selby	YORKSHIRE AND THE HUMBER	£196,671	£1,433
Leeds	YORKSHIRE AND THE HUMBER	£183,707	£1,174
East Riding of Yorkshire	YORKSHIRE AND THE HUMBER	£181,382	£1,128
Scarborough	YORKSHIRE AND THE HUMBER	£174,165	£983
Sheffield	YORKSHIRE AND THE HUMBER	£167,332	£847
West Yorkshire	YORKSHIRE AND THE HUMBER	£157,877	£658
Wakefield	YORKSHIRE AND THE HUMBER	£153,037	£561
Kirklees	YORKSHIRE AND THE HUMBER	£151,929	£539
Calderdale	YORKSHIRE AND THE HUMBER	£149,192	£484
North Lincolnshire	YORKSHIRE AND THE HUMBER	£143,682	£374
South Yorkshire	YORKSHIRE AND THE HUMBER	£142,630	£353
Rotherham	YORKSHIRE AND THE HUMBER	£133,759	£175
Bradford	YORKSHIRE AND THE HUMBER	£131,633	£133
Doncaster	YORKSHIRE AND THE HUMBER	£127,974	£59
North East Lincolnshire	YORKSHIRE AND THE HUMBER	£123,059	£0
Barnsley	YORKSHIRE AND THE HUMBER	£122,136	£0
City of Kingston upon Hull	YORKSHIRE AND THE HUMBER	£115,298	£0

Areas Above £500,000

Location	Average House Price	Previous Stamp Duty Owed	New Stamp Duty Owed	Saving 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