Landlords may be complaining about the extra Stamp Duty charges but that doesn’t seem to be stopping people buying additional properties.
Figures from HMRC on the number and value of transactions liable for Stamp Duty in the second quarter of 2017 show 213,700 transactions, up 8.7% on the first quarter of 2017 and 2.7% higher than the same period last year.
Of this, 60,000 transactions fell into the additional property charge, up from 58,200 in the first quarter and slightly below the 62,900 at the end of the year.
The overall Stamp Duty tax take was £2.3bn in the second quarter, up from £2bn in the first quarter of 2017 but the same as the end of last year.
The additional Stamp Duty rate raised £503m from the total receipts for HMRC, up from £464m in the first quarter but slightly below the £525m taken at the end of last year.
Most additional rate transactions took place in the bracket under £250,000, which some may consider typical first-time buyer properties, making up 39,000 of 115,300 sales.
The next highest was in the £250,000 to £500,000 bracket, at 14,200 out of 72,800 overall.
Out of 20,800 Stamp Duty liable transactions in the £500,000 to £1m range, 5,100 were for additional properties.
There doesn’t seem to be much stopping buyers looking for second higher end properties, with 1,400 out of 3,800 of transactions valued between £1m and £2m attracting the additional rate.
Additionally, out of 1,000 transactions of properties worth more than £2m, 400 were for additional properties.
All these figures have increased since the previous quarter, as the table below shows.
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