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
NPPF review is a chance to fix planning, build homes, restore wildlife and help SMEs
The latest National Planning Policy Framework (NPPF) unveils an ambitious package of reforms designed to speed up the planning process and make smaller sites more viable. This includes trimming environmental regulations and cutting Building Safety Levy on smaller sites, as well as providing more funding to local authorities to process planning applications faster, whilst taking…
Read More 
Five key tax mistakes made by landlords
By Allison Thompson, National Lettings Managing Director, Leaders Landlord tax is a hugely complicated area, so if you are investing in buy-to-let or renting out any property you own, it’s well worth consulting a specialist property tax adviser. They can help ensure you: a. Own, let, take income and realise gains from your investment in…
Read More 
House prices post third consecutive quarter of growth
The latest Property Market Index Review by London lettings and estate agent, Benham and Reeves, has revealed that the property market continued to demonstrate positive momentum during the third quarter of this year, with house prices increasing for a third consecutive time, although the rate of growth seen did slow considerably when compared to the…
Read More 
Estate agent predicts ‘Boxing Day Bonanza’ as property market reignites
A leading estate agent is forecasting a “Boxing Day Bonanza” for home movers. Brendan Kay, Managing Director of Parkers Properties in West Oxfordshire, says that the “market is coiling and about to spring” after months of inertia driven by Budget uncertainty. Brendan, who has offices in Witney and Eynsham, looks after clients in some of…
Read More 
Agent numbers set to grow by 4% in 2026
The latest research from The Property DriveBuy reveals that the number of estate agency businesses in the UK could be set to increase by over 4% in 2026, marking another year of solid expansion for the sector and further increasing the level of market competition. Property DriveBuy analysed available Office for National Statistics data (2017-2025)…
Read More 
Rental supply climbs 15% despite landlord uncertainty
The latest research from Dwelly has found that, despite what has been an incredibly uncertain year for landlords – marked by political back and forth over the Renters’ Rights Act, its eventual approval, and the additional 2% tax hit delivered in last week’s Autumn Budget – there are currently 15% more rental homes available to…
Read More