Stamp duty revenue across England, Wales and Northern Ireland has collapsed amid a slump in transaction volumes, according to analysis by investment consultancy London Central Portfolio. In the time of year, stamp duty receipts fell by 26.2% across the three regions, dropping £623m ($812m) to £1.7bn. Transactions fell 21.4% QoQ, to 237,240. Additional stamp duty from buy-to-let properties and second homes fell by 24.6%, as transactions were 14.7% lower, while relief transactions for first-time buyers fell by 23%. The drops were attributed in part to Q1 2019, but also to the impact of Brexit on the housing market.
Stamp duty revenue across England, Wales and Northern Ireland has collapsed amid a slump in transaction volumes, according to analysis by investment consultancy London Central Portfolio. In Q1 2019, stamp duty receipts fell by 26.2% across the three regions, dropping £623m ($812m) to £1.7bn. Transactions fell 21.4% QoQ, to 237,240. Additional stamp duty from buy-to-let properties and second homes fell by 24.6%, as transactions were 14.7% lower, while relief transactions for first-time buyers fell by 23%. The drops were attributed in part to the time of year, but also to the impact of Brexit on the housing market.