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One in four homeowners say stamp duty is the biggest barrier to moving house, according to the latest Barclays Property Insights report.
Younger buyers under 25 are feeling this most acutely, with the figure climbing to four in 10.
The figures reflect the impact of stamp duty threshold changes that came into effect on 1 April, leaving both home movers and first-time buyers facing higher costs.
Barclays also found that one in seven first-time buyers say changes have made it harder for them to get on the property ladder.
If you're planning a move – or helping a family member do the same – we’ve rounded up four ways that buyers can save money when buying a home.
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Stamp duty is a tax you pay when buying a property in England or Northern Ireland. The amount you pay depends on the price of the property, with higher rates applied to more-expensive homes.
On 1 April, the government reduced the thresholds at which stamp duty becomes payable.
First-time buyers now pay stamp duty on any portion of a property's price above £300,000, as long as the home costs £500,000 or less. Previously, no stamp duty was due on the first £425,000 of a property costing up to £625,000.
Stamp duty is calculated in bands, with first-time buyers paying 5% on the portion between £300,001 and £500,000.
As a result, many first-time buyers now face higher bills. For the average first-time buyer, a home costs £329,952, according to the latest Land Registry data, which would result in a stamp duty charge of £1,497.
However, in much of the South of England and London, buyers face much higher bills. For example, in Cambridge the average first-time buyer now faces a stamp duty bill of £6,517, compared to just £267 previously, according to Land Registry data. And in Guildford, buyers who would have paid nothing now face an average bill of £4,769.
Existing homeowners are also impacted, with the threshold at which stamp duty becomes payable halved from £250,000 to £125,000. Standard rates apply: 2% is charged on the portion between £125,001 and £250,000, and 5% between £250,001 and £925,000.
The equivalent taxes in Scotland (the Land and Buildings Transaction Tax) and Wales (the Land Transaction Tax) are unchanged.
Athough you can’t avoid paying stamp duty if it’s due, there are still smart ways to cut the overall cost of moving. Here are four tactics that could help you reduce your stamp duty bill or make savings elsewhere to help cover it:
The latest figures from Zoopla show that buyer demand is 1% higher than a year ago, while the number of homes for sale has risen by 12% over the same period. This suggests that buyers are in a stronger position to negotiate and potentially haggle prices down.
Of course, this is mostly beneficial to first-time buyers, who aren't relying on a sale to fund their purchase.
In the first three months of 2025, estate agent Hamptons found that the average first-time buyer secured a median discount of £2,000. If buyers today can achieve a similar saving, it could help offset some of the additional stamp duty costs.
It's important for first-time buyers to keep stamp duty thresholds in mind when negotiating the final price, especially if the asking price is close to £300,000. For example, negotiating a £320,000 property down to £300,000 would save you an additional £1,000 in stamp duty.
For first-time buyers looking at homes around £500,000, it’s also crucial to recognise the significant jump in stamp duty once you cross that threshold. For instance, the difference in stamp duty between a £495,000 and £505,000 property is a substantial £5,500.
And although it may seem obvious, finding a property priced below the relevant threshold could mean no stamp duty at all. In some parts of the country, that’s still a realistic option.
With mortgage rates falling and more deals now dipping below 4%, buyers could make savings by comparing what's on offer.
In some cases, you may be able to save money by choosing a cashback mortgage, and lenders are currently offering up to £2,500 cashback on certain products. This could help cover legal fees and even part of your stamp duty bill, particularly if you've already put most of your savings towards the deposit. Fee-free mortgages can also reduce costs at the outset.
In both cases, it's worth checking the interest rate too. A deal that looks attractive in the short term could end up costing more overall if the rate is higher than other products.
A mortgage broker can help you weigh up the trade-offs between rates, fees and incentives. They can search across a wide range of lenders to find a product that suits your circumstances.
Some first-time buyers may be able to use a concessionary purchase mortgage if they're buying a home at a discount from their landlord or a family member. The property is typically sold for 5% to 10% below market value. This can make it possible to get a 90% or 95% mortgage with little or no deposit.
However, putting down some money could still reduce your monthly repayments or improve your chances of being approved.
The average cost of moving home is £13,978, according to comparison site Reallymoving, based on more than 140,000 quotes generated on its website. However, this figure is based on the previous stamp duty thresholds, so the actual cost is now likely to be higher for many buyers.
Shopping around for quotes from estate agents, conveyancers and removals firms can help bring this figure down. For example, Reallymoving found that the average estate agent fee is £4,544 — a cost that, in some cases, can be just as high as the stamp duty bill itself.
Conveyancing fees also vary depending on the property’s price and location. Some firms charge a flat fee, while others charge a percentage of the sale price. Be cautious if an estate agent recommends a conveyancer or surveyor, as they may receive a commission — and you could find the service cheaper elsewhere.
When it comes to moving day, hiring a professional removals firm is often worth the cost. You can use Which? Trusted Traders to find a reliable company in your area.
Housing developers have a variety of incentives, which could help buyers save on their move. Zoopla has previously found examples of developers including furniture, offering cashback or even paying the stamp duty.
While new-builds won't suit everyone, they may offer good value for some first-time buyers — particularly those eligible for the First Homes scheme. This government scheme enables first-time buyers to purchase a new-build property at a discount of at least 30% off the market value.
However, there are eligibility criteria that must be met. Your annual income before tax must not exceed £80,000 (or £90,000 in London). For joint buyers, your combined income must also fall within these limits.
Additionally, once the discount is applied, the price of a new-build First Home cannot exceed £250,000 (or £420,000 if the property is in London).
The scheme is only available in England, and it’s worth noting that councils may set local eligibility criteria.
