Stamp duty receipts hit record high as UK property market starts to cool
Homebuyers in England and Northern Ireland paid more in stamp duty in the three months to September than in any quarter on record, but property market analysts have warned the trend will go into reverse as house prices fall.
Stamp duty receipts on residential properties hit £3.59bn in the third quarter, beating the last quarterly record, set in the second quarter, by 21 per cent, according to government figures published on Tuesday.
In the year to September — a boom period characterised by high demand and soaring house prices — receipts exceeded £12bn. That is 28 per cent higher than their pre-pandemic 12-month high of £9.47bn set in 2017.
This story originally appeared on: Financial Times - Author:James Pickford
