Scottish homeowners ‘pay less stamp duty’

People looking to buy property in Scotland may be interested to learn that they will be expected to pay less stamp duty than many people south of the border. With an average house price of £259,849, people who buy a house in Scotland will have to pay £7,795 in stamp duty, according to SmartNewHomes.com. This is compared to some £9,663 in the south-west of the UK and £12,184 in Greater London. However, stamp duties in the north of England are as low as £2,130 in the east Midlands, or example, showing that southern duties are as much as five times higher than in the north. David Bexon, managing director of SmartNewHomes.com, commented on the effect stamp duty has had on people stepping onto the housing ladder, which may affect Scottish first-time buyers. “Recent figures have highlighted that the stamp duty bill for the average first-time buyer in the UK in 2007 was £1,751, 82 per cent more than that paid in 2002,” he said. Meanwhile, the SmartNewHomes.com’s New Homes Index and Migration Monitor for February showed that, compared to the previous month, over five per cent more people were choosing to migrate to Scotland.