I am a first-time home buyer in Wales, and like many others, I am finding this process to be arduous and financially draining. The struggle is unnecessarily amplified by the burden of the hefty stamp duty, which, in my case amounts to an additional £4,000. Stamp duty in Wales, or Land Transaction Tax as it is formally known, is a significant barrier for first-time buyers striving to get on to the property ladder.

According to a recent report by the Wales Fiscal Analysis, first-time buyers in Wales with properties worth up to £180,000 have to pay 3.5% of the purchase price as a tax, while those with properties worth more than £250,000, this figure increases to 5% (source: Wales Fiscal Analysis). This can amount to thousands of pounds, making the dream of home-ownership an impossible one for many.

First-time home buyers already face a plethora of challenges including high property prices, the need for a substantial deposit, and escalating living costs. The abolishment of the Stamp Duty would significantly ease the financial pressures faced by first-time home buyers in Wales.

It is incredibly unfair that the home buyers living in the poorest nation of the United Kingdom have to pay this tax when first time buyers in England don’t (up to £425,001). 

We call on the Welsh Government to consider this petition. End the Stamp Duty for first-time buyers. Let's make the dream of home ownership a reality for every Welsh individual. Please sign this petition and add your voice to this important cause.