Purchases made above £1.5 million will pay 12 percent.
Stamp duty now
A buyer will currently pay no stamp duty if they buy a home for £250,000 and complete their purchase before September 30.
Stamp duty after September 30
A buyer purchasing a property for £250,000 who will complete their transaction after October 1, will pay £2,500 in stamp duty.
The stamp duty holiday is believed to have helped boost house prices across the country, leading to increased demand and a slump in supply.
The housing market has also been bolstered by a change in buyer sentiment with more Britons working and spending time at home.
Some experts are predicting the end of the holiday could see prices drop.
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