‘Mad March’ Is Over: What’s Next For The Residential Property Market?

This was the final month that purchasers could benefit from the previous stamp duty land tax thresholds (which were temporarily set in September 2022).

Back then, the purpose was to reduce the upfront cost of moving home.

However, in the Autumn Budget, the Labour government announced that the following changes would come into effect from 1 April 2025:

• The nil rate threshold, which was £250,000, would return to £125,000.
• The nil rate threshold for first time buyers, which was £425,000, would return to £300,000.
• The maximum purchase price, where ‘First Time Buyer’s Relief’ could be claimed, would be £500,000 rather than £625,000.

In light of the above changes, Residential Property solicitors worked tirelessly to complete as many transactions as possible by the deadline of 31 March 2025.