In early July Chancellor Rishi Sunak announced that the Stamp Duty threshold would be temporarily raised to £500,000 when purchasing residential property in England and Northern Ireland.
Between 8 July 2020 and 31 March 2021, you will pay zero Stamp Duty Land Tax on residential property costing up to £500,000 unless it’s an additional property. These rates apply whether you are a first-time buyer or have owned a property previously.
Residential property sold at over £500,000 could save buyers up to £15,000. Those who are purchasing additional property will pay a 3% higher rate applied on top of the revised standard rates for the same period.
Here’s five of our favourite London studio and one bed apartments for sale through Cluttons, all listed at the £500,000 threshold or under.
Studio apartment for sale in the heart of Chelsea, London SW3
This quiet studio is situated on the fourth floor of its of this much sought-after block. With a lift, 24 hour porterage and plenty of built in storage means it’s an ideal investment for those looking for a pied-a-terre or rental investment at £495,000.
Located in the heart of Chelsea, Sloane Avenue is within easy walking distance of the King’s Road and Sloane Square providing an excellent selection of local shops, bars and restaurants.
Unique studio apartment in the prestigious Old Town Hall development, Bermondsey SE16
On the market at £415,000, this apartment consists of an open plan kitchen/ reception room with double-height ceiling and integrated kitchen. In a unique set up, the bedroom is located on the mezzanine level, providing the feeling of a one bedroom apartment, allowing lots of light throughout the home.
On the market for £475,000 this Shad Thames studio has been well looked after, so minimal effort is needed to bring the interior up-to-date with current trends. Add to that the unusually good size, waterfront views and off-street parking, we think this is a great new home or buy-to-let.
A perfect starter home – one bedroom apartment with south-facing balcony in Islington N1
The perfect starter home, just a short walk from Islington Green and Regents Canal with a gorgeous south-facing balcony. This well presented modern 4th floor apartment is the perfect flat, on sale at £475,000, for first time buyers or those looking for a London base.
One bedroom apartment with juliet balcony for sale in Wapping E1W
This lovely one bedroom apartment has been recently refurbished with attention paid to making sure you’re able to make full use of the space. Generous storage, south-facing windows, juliette balcony and private car parking space makes excellent value for money at £325,000.
Discover more properties for sale with Cluttons listed at £500,000 or less, here >
