Buyers must pay stamp duty on 93% of properties sold in the UK if:The Chancellor will not extend the current standards in tomorrow's Budget, according to research by Leeds Building Society.
Rachel Reeves plans to let the more generous criteria for buyers expire at the end of March next year, meaning far more buyers will be subject to the tax. 
The tax-free threshold for all home buyers will go from £250,000 to £125,000, and for first-time buyers it will revert from £425,000 to £300,000.
In Yorkshire, buyers currently pay stamp duty on 49% of homes on the market.
However, if the threshold were to return to its previous level, this would increase to 86% of homes.
Leeds estimates that the average first-time buyer renting privately in London would probably take 25.8 years to save their first average deposit, plus their You will likely need an additional 12 months of savings to purchase the property.
First-time buyers paid 16 times more for homes in 2022 than they did in 1982, but gross profits were just seven times higher, lenders said.
Andrew Greenwood, deputy chief executive of Leeds Building Society, said:
“As a mutual company, we were founded to help people own their own homes, save for their futures and create a sense of belonging in communities across the country.
“We welcome the Labor Government’s commitment to social and affordable housing and renewed interest in housebuilding, but to solve this problem our country must improve the stability of its housing market. We need to develop long-term, coordinated plans for
“This needs to be a plan focused on delivering more homes, helping first-time buyers save on their down payments, and expanding affordable routes to homeownership.”
