New data reveals hotspots for first-time buyer incentives
New research has identified the areas in England where first-time buyers are most likely to benefit from Stamp Duty relief, with London boroughs dominating the rankings.
According to government data compiled by the platform Getamover.co.uk, Barking and Dagenham emerged as the top area for first-time buyers, with 39% of residential transactions claiming first-time buyers’ relief (FTBR) in 2023-24. This borough also offers one of the most affordable entry points into the London property market, with an average house price of £355,124 and an average FTBR of £5,642.
London boroughs dominate the list
Lambeth secured second place, with 35% of transactions benefiting from FTBR. Despite having the highest number of first-time buyer transactions in the top 10 (1,500), its average house price stands at a much higher £643,167. Greenwich, also at 35%, ranked third due to a slightly lower transaction count of 1,200, with an average relief of £6,542.
Tower Hamlets followed closely in fourth place, with 34% of transactions claiming FTBR. While it offers an average relief of £6,472, its average house price is £545,956, making it a more expensive option for first-time buyers.
Outside of London, Dartford ranked fifth, also with 34% of transactions claiming FTBR. The town presents a more affordable alternative, with an average house price of £371,817 and an average relief of £5,293. Similarly, Thurrock, in sixth place, also had 34% of transactions benefiting first-time buyers but ranked lower due to its slightly lower average relief of £5,101.
Other high-ranking areas
Havering, Lewisham, and Reading all ranked in the top 10, each with 33% of transactions claiming FTBR. Reading was the only non-London area in the top 10, with 800 transactions and an average house price of £407,161. Watford rounded out the list, also with 33% of transactions claiming FTBR.
“The data highlights the ongoing challenge for first-time buyers, particularly in London, where demand remains high and property prices remain steep,” said David Burrows, head of Getamover.co.uk. “London not only sees the highest proportion of transactions benefiting from first-time buyers’ relief but also the largest average relief claimed, at £6,653. This suggests that while affordability is a concern, buyers are leveraging available incentives to get on the property ladder.”
Burrows noted that, outside of the capital, regions such as the South East and East of England show strong first-time buyer activity, though the relief claimed tends to be lower. Areas like the South West and West Midlands report significantly lower FTBR percentages, suggesting that fewer first-time buyers are entering these markets or that more transactions fall outside the qualifying price range.
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