To ask the Deputy Prime Minister what estimate his Department has made of the average stamp duty paid by first-time buyers.
There is no complete house price data available that identifies first-time buyers. Estimates from the Regulated Mortgage Survey, show that almost half the first-time buyers paid no stamp duty as the value of their property was below the stamp duty threshold. This estimate does not allow for buyers in Enterprise Areas where the threshold is higher. Averaging the stamp duty paid across all first time buyers who are not sitting tenants and who bought with a mortgage produces a figure of £1,500 for quarter 3 2005. In the Budget the Chancellor raised the threshold to £125,000.