In the South East of England, where the average house price is £385,600, first-time buyers could potentially save up to £4,280 in stamp duty by purchasing before April 1, based on typical property values, Santander said.
However, despite the average £31-a-year rise, households will be hit particularly hard from April with an average increase of £86 or 20% front-loaded into the coming year, with smaller percentage increases in each of the next four years.
From April, the standard rate of road tax for cars registered after April 2017 rises £5 to £195 a year.
The annual energy bill for a household on a variable tariff – as opposed to a fixed deal – using a typical amount of gas and electricity will go up by 6.4% or an average £111 a year to £1,849 from April 1.
Households in England and Wales will see their water bills increase by an “extortionate” average of £86 next year alone, as firms face accusations of years of under-investment in their crumbling infrastructure.
