Transaction numbers were down “by less than one per cent” in Q3 2019 against the same period last year. HMRC said direct comparator numbers were not available owing to its introduction of a 14-day returns filing window for stamp duty in March 2019.
Residential transaction numbers were down 0.1 per cent and non-resi dropped three per cent in Q3 2019 compared to Q3 2018.
The value of tax receipts dropped by one per cent in Q3 2019 compared to the same months last year.
Residential receipts were “steady” compared to Q3 2018 and non-residential tax receipts dropped by seven per cent, HRMC said.
Quarter-on-quarter, growth in transaction numbers and receipts were broadly in line with activity in 2018.
Transactions numbers were up 14 per cent to 305,100 in Q3 against Q2, a “similar” rate of growth as in 2018, HMRC said.
Residential transactions grew by 16 per cent to 278,300 and non-residential sales were down three per cent to 26,800 quarter-on-quarter.
The value of tax receipts rose by 20 per cent to £3.2bn quarter-on-quarter — this was an increase in the growth rate compared to 14 per cent recorded in 2018.
The increase comprised 25 per cent growth in residential receipts to £2.4bn and a seven per cent increase to £797m for non-residential.
First Time Buyers’ Relief
The data from HMRC included transactions for those paying higher rates for additional dwellings (HRAD) and those claiming First Time Buyers’ Relief (FTBR).
A total of 61,200 transactions claimed FTBR in Q3 2019, bringing the number of such claims to 401,900 since the relief was introduced in November 2017.