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Biggest stamp duty savings identified by estate agency

A study by estate agency Coulters has revealed which areas of the country make the biggest savings courtesy of the stamp duty holiday.

Currently the holiday will end on March 31 although speculation continues to mount that an extension will be announced. 

Until that is confirmed - if at all - Coulters has calculated each local council area’s savings by estimating the average paid by buyers for stamp duty, based on local house values.

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The local authorities with the biggest savings include Kensington and Chelsea, City of London, Richmond-upon-Thames and Haringey which all feature in the top 20.

The average house price in Kensington and Chelsea is £1,507,130, meaning that the average stamp duty owed would be £94,605.

On the other hand, the research highlighted areas where the average house price is below £125,000 meaning a very substantial number of buyers generally do not pay any stamp duty anyway.

These areas include Stoke-on-Trent, Blackpool, County Durham and Burnley. The lowest property value is Blaenau Gwent in Wales, where the average house price is only £95,002.

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