First-time buyer activity in Wales less affected by end of stamp duty holiday than UK overall

With the majority of first-time buyers in Wales typically buying homes under £125,000, the end of the stamp duty holiday had a smaller impact in Wales than in the UK. 58% of first-time buyers in Wales bought property for less than £125,000 in the first quarter of 2012, according to data released by the Council of Mortgage Lenders in Wales. This was down only slightly from 59% in the previous quarter. 1,900 loans (worth £180 million) were taken out by first-time buyers in the first quarter of this year. Peter Hughes, chair of CML Cymru, commented: “Lower house prices in Wales mean that the effect of the recently expired stamp duty holiday for first-time buyers has been less pronounced than in the UK as a whole.” June 1, 2012