Autumn Budget 2017: Where first-time buyers will find the biggest stamp duty savings after it's scrapped on property under £300,000

 
Lynsey Barber
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Buyers in some locations will find greater savings than others (Source: Getty)

First-time buyers are being treated by the chancellor to a helping hand (albeit small) when it comes getting on the property ladder.

Philip Hammond abolished stamp duty on homes under £300,000 for them - something that is expected to help out 80 per cent of newbies.

Halifax has handily calculated just how much first-time buyers stand to save across the country, based on the average price of properties bought by first timers.

Read more: Hammond abolishes stamp duty for first-time buyers

Naturally, that means that Londoners stand to make the greatest savings, though they are already forking out a large amount due to high property prices.

And there's one location where the offer is pretty much worthless because the average price of a new home does not scrape past the minimum £125,000 at which the tax first applies - Northern Ireland.

Experts have warned however that it could cause prices to inch up though.

Here's their calculations....

Region

Average Price For a typical FTB home (Oct 2017)

Stamp Duty Payable thismorning (22/11/2017)

FTB Stamp Duty now after Budget

Savings

North

£126,237

£24

£0

£24

Yorkshire and Humberside

£140,122

£302

£0

£302

North West

£149,539

£490

£0

£490

East Midlands

£162,844

£756

£0

£756

West Midlands

£167,274

£845

£0

£845

East Anglia

£206,339

£1,626

£0

£1,626

Wales

£139,281

£285

£0

£285

South West

£205,485

£1,609

£0

£1,609

South East

£278,965

£3,948

£0

£3,948

Greater London

£421,216

£11,060

£6,060

£5,000

Northern Ireland

£120,205

£0

£0

£0

Scotland

£139,870

£297

£0

£297

UK

£211,980

£1,739

£0

£1,739

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