This is a change, not a stamp duty
holiday so there is no time limit and it can be used on second hand properties not just new build homes which will have a bigger effect right across the market.
It estimates that between 2012 and 2017, an additional 146,000 property transactions could have taken place if stamp duty
had been removed.
People cannot move to where the best jobs for them are because the houses aren't being built, and that's made even worse by stamp duty
keeping older people in family homes that are too large for them.
The change reduced stamp duty
for most - a PS300,000 home went down from PS9,000 to PS5,000.
A total of 225,200 first-timers paid stamp duty
between June 2015 and June 2016, buying properties that were more than the PS125,000 minimum threshold.
George Osborne, chancellor, overhauled the stamp duty
system in December 2014, ending the "slab" system in favour of a progressive levy under which properties costing more than 938,000 pounds incur a bigger charge.
The welcome reforms to Stamp Duty
announced by the Chancellor last December have helped to reduce Stamp Duty
bills for the overwhelming majority of homebuyers and movers.
The effect of the changes is that anyone buying a property for less than PS937,500 will pay less stamp duty
or the same as they would under the old regime.
Matthew Sinclair, chief executive of the Taxpayers' Alliance, said: "As the property market recovers, more and more people will be sucked into paying punitive rates of stamp duty
The report said: "In Wales, 2,950 homes were bought with a Stamp Duty
rate of 3% or more in 2012-13.
The bank yesterday said the average house price was pounds 163,803 in March as the number of completed sales rose to its highest level since late 2009 before the threshold for stamp duty
fell from pounds 250,000 to pounds 125,000 at the end of the month.
After this date, stamp duty
will be charged at a rate of 1% to first-time buyers on all properties above the value of pounds 125,000.