Stamp duty sums see sharp increase in Q3
November 4, 2019
The latest Gov figures on stamp duty tax receipts show that: –
- Transactions increased by 14% from 268,400 in Q2 2019 to 305,100 in Q3 2019. This is a similar increase to last year.
- Q3 2019 receipts were £3,150 million, 20% higher than in Q2, a sharper increase than for last year. This is due to a 25% rise in residential receipts and a 7% rise in non-residential receipts. Both transactions and receipts have stayed broadly the same in Q3 2018 and Q3 2019.
- 61,200 transactions claimed first time buyers’ relief in Q3 2019, making a total of 401,900 claims since the relief’s introduction. The estimated total amount relieved over that period is £955 million.
Please find below comment from Marc von Grundherr, director of lettings and estate agent, Benham and Reeves.
Director of Benham and Reeves, Marc von Grundherr, commented:
“A healthy increase in stamp duty tax receipts demonstrates the slow but steady property landscape we’ve seen over the course of the year.
While price growth may have stuttered, we continue to see sales transact and while many first-time buyers have benefited from stamp duty relief, many other homebuyers will still be wondering why they are still forced to pay an archaic land tax introduced to fund a war against France.
Albeit, in the current context of Brexit, some might argue we are indeed still ‘at war’.”
You May Also Enjoy
Freehold and Leasehold Reform Act-lessees can control their own destiny
Matthew Pennycock, Minister of State for Housing and Planning, has made a Parliamentary Statement regarding the future progress of the Freehold and Leasehold Reform Act 2024. The Government have formally recognised the “significant complexity of the task” and that the legislation was rushed in at the end of the last parliament and as a result…
Read More 
Rightmove’s weekly mortgage tracker 22/11/24
The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More 
The Architecture Of Attention Behind Social Media Addiction
In the digital age, social media platforms have revolutionized how we connect, share, and consume information. Behind their sleek interfaces lies a sophisticated architecture of persuasive technology. These platforms employ intricate design patterns and technical elements to capture and hold user attention. From subtle visual cues to complex algorithmic systems, every feature serves a calculated…
Read More 
2025 Predictions for the Private Rental Sector
Allison Thompson, National Lettings Managing Director, Leaders Romans Group (LRG) “As we approach 2025, the lettings industry is entering a phase marked by stabilisation and opportunity. Rental inflation has slowed to an average of 3-4% for new lets, reflecting the effects of affordability constraints; renters’ budgets are beginning to limit how much rents can rise.…
Read More 
Response to Matthew Pennycook’s Statement on Leasehold Reform
Yesterday, Secretary of State Matthew Pennycook made a Ministerial Statement on the future of leasehold reform. Responding, Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP said: ALEP welcomes the ministerial statement which puts in place a timeframe and some objectives for the implementation of the Leasehold & Freehold Reform Act.…
Read More 
Essential Garage Storage Solutions for Small Spaces
Maximize your garage space with practical storage ideas that keep your items organized and accessible. If you’re dealing with a smaller garage, smart solutions can make a big difference in keeping your space neat and usable. 1. Wall-Mounted Storage Wall-mounted storage is an excellent way to save space and keep your garage organized, especially in…
Read More