Around 54,000 home sellers have entered the market across England since the 31st March stamp duty deadline. However, just 7% of the 53,468 new homes hitting the market across England have been listed with an asking price below the stamp duty threshold of £125,000.
Research conducted by estate agency Yopa shows that of the 431,836 homes currently listed for sale across England, 53,468 entered the market in the seven days following the expiry of the previous stamp duty relief threshold (1st April to 7th April).
The South East has seen the most new homes enter the market, with over 10,000 new listings in the first seven days of the month. London follows, where 8,234 new homes have been put up for sale.
Additional analysis by Yopa suggests that existing sellers have tried to help mitigate some of the increased cost of stamp duty by reducing their asking price. The largest proportion of properties with a reduced asking price are for sale at between £125,000 and £250,000, with 38% of all homes in this bracket reduced. Yopa says 35% of all homes at £125,000 or less have been reduced in price.
‘This suggests that a high proportion of sellers are reducing their asking price expectations in order to help mitigate the increased cost of stamp duty endured by homebuyers purchasing between £125,001 and £250,000, or to price below the new stamp duty free threshold of £125,000,’ the company says.
“It’s clear that a large proportion of sellers who are looking to make their move in 2025 chose to sit tight until the dust had settled on the recent stamp duty deadline, with more than 50,000 homes entering the market in the first seven days of April,”
said Yopa CEO Verona Frankish, adding:
“However, it’s also clear that the nation’s sellers are keen to meet buyers in the middle, with a high proportion of homes listed within the new 2% stamp duty charge threshold reducing in asking price to help mitigate the additional cost incurred. At the same time, a significant proportion of homes listed below the £125,000 threshold have also seen a price reduction, suggesting that many sellers have dropped their price expectations in order to maintain the added allure of stamp duty free purchase.”
