A sizeable amount of this has come from buy-to-let Landlords and people purchasing a second home, as they had to pay a 3% increase in Stamp Duty on such transactions. This group of purchasers contributed £4.1 billion to the overall total.
Edwina Ashworth, Director at Royton based property specialists Kirkham Legal says: “This is a significant increase, but does show that the Buy-To-Let market is still vibrant as many predicted that it would be severely damaged by the Stamp Duty changes introduced in April 2016. This coupled with a continued increase in house values has led to this growth in revenue for the Government…”
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