2016 Stamp Duty receipts down in London but up nationwide

Stamp Duty receipts in prime central London came in 12.7% lower year-on-year in 2016 but were up 10% nationally, provisional figures suggest.

Official HMRC data on stamp duty for the final quarter of 2016 is not released until tomorrow but estimates compiled by residential market analysts Dataloft for buying agent Turnbull show prime London saw receipts of £475.7m in 2016.

They compiled this data using transaction figures from LonRes and applying the relevant rates.

The outlook from Turnbull for the capital said: “With sales prices expected to remain static at best, price sensitivity will remain crucial to achieving a sale.

“Demand will continue to be dominated by the global political and economic arena, with the US presidential inauguration and the anticipated triggering of Article 50, two significant events for the first quarter.”

Looking at the whole of the country, buying agent Henry Pryor has also managed to get his own provisional calculations to show Stamp Duty receipts were at £11.44bn in 2016, up from £10.3bn in 2015.

He said: “Bad news for those lobbying for change.”

Written by: Houseladder