U.K. mortgage lender Nation- wide last week pled with the government to raise the stamp duty threshold for first-time buyers. As it stands today, soaring house prices means the number of first-time buyers required to shell out the additional tax cost has risen by 10% to 75% over the last 10 years.

According to commentary from JPMorgan Securities, the maximum duty-free threshold is currently set at GBP60,000 (US$108,184), and more than 75% of new buyers are now hit by the tax, given the rapid rise in U.K. house prices over the past decade. It translates to an average of GBP1,000 (US$1,802) in stamp duty added to the already steep costs buyers have to consider.

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