Residential transactions fell by one per cent between 2019 and 2020, with 1,023,000 recorded during the period.
The statistics, which cover the financial year beginning 2019, do not cover the period when the property market went into lockdown or the stamp duty holiday.
Prime property income
High property prices and a desire to live in the capital resulted in London accounting for 38 per cent of all SDLT receipts, amounting to £4.4bn, with no change on the year before.
Transactions in England were responsible for 99.3 per cent of receipts while Northern Ireland made up 0.7 per cent. Respectively, revenue from each region was valued at £11.5bn and £80m.
It was also higher priced homes which accounted for the largest proportion of receipts with a 44 per cent share. However, properties worth £1m and over only made up three per cent of transactions in the year.
Properties valued at £250,000 and lower made up 59 per cent of all transactions and 11 per cent of SDLT revenue. This remained broadly flat on the financial year to 2019.
There were 230,300 transactions completed by those with more than one dwelling, no change on the previous year, with a total revenue of £3.8bn.
Some 222,700 transactions benefited from first time buyers’ relief (FTBR) in 2019 to 2020, with an estimated total of £541m relieved.
Overall, SDLT receipts fell three per cent from £15.5 bn to £15.1 bn between 2018 to 2019 and 2019 to 2020.