The Conservative Party will permanently cut stamp duty for first-time buyers in its election manifesto, it’s being widely reported.

As it stands first-time buyers don’t pay stamp duty on properties worth up to £425,000, though threshold is set to return to £300,000 in March of next year.

The change was a policy from short-lived Prime Minister Liz Truss, who also temporarily raised the minimum stamp duty threshold from £125,000 to £250,000 – a change that is also due to expire in March of next year.

The manifestos of the Conservatives, Labour and the Lib Dems are expected to be published this week.

Stamp duty has received lots of attention during the Conservatives’ time in government, as the introduction of a temporary stamp duty holiday during the covid-19 pandemic significantly fired up the market, driving up transactions and house prices.