Here’s an interesting graph from the Bank of Scotland. It shows how many first time buyers in the UK benefitted from the temporary increase in the Stamp Duty threshold to £250,000 (from £125,000) that comes to an end on the 24th March.
Just over three quarters of first time buyers in Scotland did not benefit from the change because the homes they were buying were not priced between £125,000 and £250,000 – where Stamp Duty would have been payable without the change in threshold. With an average purchase price of £87,440, they would not have paid Stamp Duty even if the threshold had not be raised.
So, we may not have gained as much as others from the Stamp Duty holiday, but it is less likely that the Scottish market will suffer as a result of its abolition.