Stamp duty threshold raised to £500,000

“Right now, there is no stamp duty on transactions below £125,000,” says Sunak. 

“Today, I am increasing the threshold to half a million pounds. 

“This will be a temporary cut running until 31 March 2021. 

“And, as is always the case, these changes to stamp duty will take effect immediately. 

“The average stamp duty bill will fall by £4,500. And nearly nine out of ten people buying a main home this year, will pay no stamp duty at all.”