Zoopla urges UK stamp duty threshold rise to £500,000

Zoopla’s executive director, Richard Donnell, called for the 5% stamp‑duty band to be lifted from its current £250,000 threshold to £500,000. He said the change would cut the duty payable on a £500,000 home by up to £12,500 and ease moving costs for average buyers in southern England, especially in London and the South‑East. “The 5% stamp duty band between £250,000 and £925,000 hits a lot of average buyers of average‑priced homes across southern England… the numbers add up and are a disincentive to move,” Donnell said.

The proposal comes amid broader discussions on stamp‑duty reform, with the Conservative Party recently pledging to abolish the tax if returned to power. Shadow Chancellor Sir Mel Stride argued that abolition could boost house‑building by 25% – about 200,000 homes over five years. London estate agent Jeremy Leaf welcomed the reform idea but warned that the tax, while a solid revenue source, hampers job mobility and economic efficiency. No official government response had been issued at the time of reporting.