What's on

Big changes to stamp duty are coming in April 2025, and they could add thousands to the cost of buying a home. For those planning to buy in Yate soon, there’s still time to take advantage of the lower costs under the current system. Plus, on the 11th January 2025, housebuilder Newland Homes is holding a special ‘stamp duty savings’ event on selected plots at its Great Oaks development in Engine Common.

In her October 2024 budget, Chancellor Rachel Reeves announced that from April 2025:

The stamp duty exemption threshold for first-time buyers will drop from £425,000 to £300,000, increasing costs for homes above this price.

The general threshold for home movers will fall from £250,000 to £125,000, meaning most buyers will face stamp duty on a larger portion of their purchase.

A buyer purchasing a £585,000, four bedroom detached, zero carbon home at Great Oaks in Engine Common, near Yate, by Newland Homes will face the following differences in costs before and after April 2025:

Under the current system, a first-time buyer purchasing a £585,000 home pays £8,000 in stamp duty. From April 2025, they would pay £19,250 — an increase of £11,250.

For home movers, the current stamp duty on a £585,000 property is £16,750. With the new rules coming into play, this would increase to £19,250, adding £2,500 to the bill.

The exclusive ‘stamp duty savings’ day on Saturday 11th January 2025 is a chance for buyers to purchase one of three selected plots, on which Newland Homes will cover the cost of the stamp duty land tax ahead of the upcoming changes. Spaces at this event are limited, so call 01454 537993 to register your attendance.

“We know that every bit of financial breathing room counts” says Marcus Evans, Sales & Marketing Director at Newland Homes. “With these changes coming, now’s the time to buy if you’re ready and the 11th January is a golden opportunity to reduce upfront costs. Think of what you could do with that extra money – whether it’s furnishing your dream home or taking a family holiday.”

The upcoming stamp duty changes are a reminder to act today. By securing your new home now which will be ready for you to move into before the changes come into effect in April 2025, you can avoid the additional costs and make the most of the current, more favourable stamp duty taxes.

Newland Homes offers several schemes to help get you moving, whatever your situation. If you have a house to sell, we can offer part exchange on selected homes and Movemaker to help sell a current home. “We recommend speaking to a New Homes Mortgage Specialist and getting the right support to ensure you’re making the most of the current stamp duty rates” continues Marcus.

Homes at Great Oaks combine cutting-edge environmental design with the charm of a semi-rural setting. It is the first housing scheme in the region to achieve a Building with Nature Design Accreditation from the Gloucestershire Wildlife Trust and the University of the West of England, placing nature at the heart of new development.

The 84 zero carbon homes that will sit within this ecologically-rich landscape are packed with renewable energy features and achieve an EPC ‘A’ rating for both energy efficiency and environmental impact, providing cleaner and greener living for homeowners and transforming the way homes are designed and run.

The new homes at Great Oaks enable homeowners to reduce their carbon footprint, thanks to their reliance on solar power and air source heat pumps instead of gas boilers. This, combined with the high-quality green infrastructure, will significantly aid wellbeing, differentiating Great Oaks from other local developments.

To book a tailor-made appointment to view the new homes at Great Oaks in Engine Common before the stamp duty changes, please call 01454 537993. Tailor made tours are available daily, from 11am to 5pm. Further information is also available at www.newlandhomes.co.uk/enginecommon or follow Newland Homes on social media @newlandhomes.

www.newlandhomes.co.uk/enginecommon