Stamp duty for first-time house buyers has almost doubled to an average of £1,751 in just five years, new figures show. One in five first time buyers in the south now pays at a rate of 3% of the property value increasing the minimum of getting on the property ladder to £7,500
London has shown the biggest rate where house prices are highest and the average bill has shot up to £8,675.
People trying to get on the housing ladder in the more expensive areas also have to pay up an average deposit of more than £60,000 which will cause a further hindrance to property owners looking for a quick house sale when selling thier property in these areas.
