According to analysis of HMRC figures from Coventry Building Society, this is around 200,000 more than in 2020 and 2021.
In 2006 to 2007 there were 1.7 million residential transactions and in 2007 to 2008 there was around 1.5 million residential transactions.
It is also on a par with figures from 2014 to 2015 when residential transactions came to 1.207 million, compared to 1.208 million in 2021 to 2022.
The total amount of stamp duty land tax paid on residential properties paid during 2021 and 2022 came to £10.1bn, which is 69 per cent up on the year before.
The stamp duty intake came to £16.2bn in 2022, up 23 per cent on 2021 and a record for the tax.
This record amount was achieved despite the stamp duty holiday being in place between April and September 2021.
The high level of stamp duty land tax paid has continued this year, with £12.7bn in receipts recorded in the first three months of this tax year.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “The numbers confirm what we already knew – the stamp duty holiday injected life into the market at a time of uncertainty.
“The reduced tax bill enabled people to move more freely, which was especially important during the pandemic when a lot of people were suddenly working from home and reassessing what their house needs to be.”
He noted that the market was in “another period of uncertainty” and “an injection to the market would be welcomed by many”.
“The new stamp duty thresholds set in September have eased the tax burden on homebuyers, but there’s room for the government to really get creative in their approach and start introducing incentives for energy efficient home improvements, or waivers for downsizers, for example,” Stinton said.
In September last year the government doubled the level at which residential buyers started paying stamp duty from £125,000 to £250,000.
The nil-rate threshold for first-time buyers relief was also upped from £300,000 to £425,000 and the maximum purchase value for relief was increased from £500,000 to £625,000.
The government said that this would ensure around 43 per cent of purchasers will pay no stamp duty.
