PDF: UK Property Transaction Statistics

Transcription

Coverage:
United Kingdom
Released:
23 December 2014
Next release:
21 January 2015
Frequency of release:
Monthly
Media contact:
HMRC Press Office
03000 585 024
Statistical contacts:
Paul D'Mello
03000 586 162
revenuemonitoring@hmrc.gsi.gov.uk
Mark Dickson
03000 515 305
KAI Tax Gaps & Indirect Taxes
HM Revenue and Customs
100 Parliament Street
London
SW1A 2BQ
Website:
https://www.gov.uk/government/collect
ions/property-transactions-in-the-uk
UK Property
Transaction
Statistics
UK Property Transactions Count - November 2014
0
Contents
Section 1: Statistics
1
2
3
Current Financial Year
Commentary and Charts
Residential property transaction completions (and Revisions)
Non-residential property transaction completions (and Revisions)
Sheet Number
1
2
3
4
5
6
Historic
Historic Trends: Commentary and Charts
Residential property transaction completions (Historic Table)
Non-residential property transaction completions (Historic Table)
4
5
6
Section 2: Reference
7.1
7.2
7.3
7.4
7.5
8
9.1
9.2
9.3
9.4
Background, Methodology, Explanations and Contacts
Stamp Duty Land Tax (SDLT) Background
Introduction to Statistics: Methodology & Explanation
Statistical Quality
Related Statistics
Useful Links
Changes and Revisions
Contact Points
Publication Calendar
Revisions Policy
Reference: National Statistics Bulletins for Indirect Taxes
Bulletin is Crown copyright. Information may be used provided that the source is acknowledged.
Release Date: 23 December 2014
Next Release: 21 January 2015
Website:
https://www.gov.uk/government/collections/property-transactions-in-the-uk
Produced by:
E-mail :
KAI Tax Gaps & Indirect Taxes - Revenue Monitoring
7
7
7
7
7
8
9
9
9
9
1
Guidance on the statistics
This publication presents monthly estimates of the number of residential and non-residential property
transactions in the UK and its constituent countries. The figures are based on HMRC's Stamp Duty Land Tax
(SDLT) database, which records the information submitted by property purchasers on the Land Transaction
Return. More information about data sources, quality and methodology can be found on page 7.
These statistics are generally used by analysts, academics and policy makers to examine movements and
trends in the UK property market. They are best used in conjunction with other monthly housing market
indicators, some of which can be found in the 'Related Statistics' section on page 7.
[Reviewed 23 December 2014 / Next Review 21 January 2015]
Key messages
The provisional seasonally adjusted UK property transaction count for November 2014 was 98,490 residential
and 9,310 non-residential transactions.
Residential transactions
The seasonally adjusted estimate of the number of residential property transactions decreased by 2.1%
between October 2014 and November 2014. This month’s figure is 0.8% lower compared with the same month
last year. Chart 1A shows the historic time series for residential property transactions.
The pattern since the beginning of 2013/14 has been of a general month-on-month increase in transactions for
the seasonally adjusted data until February 2014, then a gradual decrease followed by a flattening out of
transaction numbers. October 2014 saw a peak for recent non-seasonally-adjusted transactions, the highest
level since November 2007.
In November 2014, the number of non adjusted transactions has fell compared with October 2014, for
residential properties. The seasonally adjusted figure for November 2014 is lower than in the previous month
and also lower than in November 2013. Please note that the figures for the two most recent months are
provisional and therefore subject to revision.
Chart 1A
Total UK Residential Property Transactions
140,000
120,000
80,000
60,000
40,000
20,000
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Seasonally adjusted
Mar-14
Feb-14
Jan-14
Dec-13
Oct-13
Sep-13
Aug-13
Jul-13
Nov-13
Not seasonally adjusted
0
Jun-13
Transactions
100,000
1
Non-residential transactions
The seasonally adjusted estimate of the number of non-residential property transactions decreased by 3.1%
between October 2014 and November 2014. This month’s figure is also 2.0% lower compared with the same
month last year. Chart 1B shows the historic time series for non-residential property transactions.
Seasonally adjusted transactions of non-residential property have been fairly stable over the last year. Non
seasonally adjusted transactions had a large drop in the first two months of 2014, but increased sharply in
March. There were also dips in May and August, with month on month growth since then. Please note that the
figures for the two most recent months are provisional and therefore subject to revision.
Chart 1B
Total UK Non-Residential Property Transactions
12,000
10,000
6,000
4,000
2,000
Seasonally adjusted
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
Dec-13
Nov-13
Oct-13
Sep-13
Aug-13
Jul-13
0
Jun-13
Transactions
8,000
2
Annual and Monthly Tables
Residential
Number of residential property transaction completions with value £40,000 or above1 2
Seasonally
adjusted*
Not seasonally adjusted*
England
Scotland
Wales
Northern
Ireland
UK
UK
Annual (financial year)
2009-10
2010-11
2011-12
2012-13
2013-14
770,600
755,160
794,170
799,260
977,110
73,510
72,140
73,090
73,720
89,120
37,580
37,230
38,990
39,200
46,970
15,290
14,190
14,710
15,750
20,150
896,980
878,720
920,960
927,930
1,133,350
892,890
876,580
916,620
929,440
1,139,950
735,220
761,000
762,140
803,800
924,470
71,840
73,120
70,740
73,830
85,470
36,490
37,260
37,870
39,280
44,820
14,800
14,390
14,040
15,570
18,800
858,350
885,770
884,790
932,480
1,073,560
847,580
879,060
883,890
931,960
1,067,280
77,820
85,280
90,800
80,600
87,670
93,950
90,930
75,750
75,100
79,280
81,090
87,880
92,890
95,340
98,320
90,960
100,040
83,120
7,790
7,650
8,700
7,520
8,110
8,990
7,300
6,500
5,680
6,830
7,590
8,830
8,960
8,160
9,490
7,860
9,420
9,310
4,040
4,100
4,260
3,860
4,280
4,610
4,480
3,350
3,470
3,770
3,890
4,350
4,480
4,700
4,620
4,150
4,820
4,040
1,570
1,650
1,820
1,660
1,790
2,030
1,870
1,680
1,690
1,690
1,720
2,000
2,040
1,980
2,120
1,950
2,350
1,890
91,220
98,680
105,580
93,640
101,850
109,580
104,580
87,280
85,940
91,570
94,290
103,060
108,370
110,180
114,550
104,920
116,630
98,360
88,830
89,290
91,940
92,370
95,150
99,320
100,850
103,560
109,560
103,590
102,560
101,590
101,540
100,860
101,380
101,580
100,560
98,490
Annual (calendar year)
2009
2010
2011
2012
2013
Monthly
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
R
R
R
R
R
R
P
P
R
= Revised to reflect amendments to SDLT returns data.
P
= Provisional.
1
= Property transactions are allocated to the month in which the transaction was completed.
2
= Not all completed transactions in the month prior to processing or the month before that will have been processed
when figures for the latest month are compiled. Estimates are therefore made for the missing transactions in both the
latest month and the previous month.
Month on month changes for the most recent data should not be given too much weight.
* = see Reference Notes on Sheet 7
3
Annual and Monthly Tables
Non-Residential
Number of non-residential property transaction completions with value £40,000 or above1 2
Seasonally
adjusted*
Northern
Ireland
England
Scotland
Wales
UK
UK
2009-10
2010-11
2011-12
2012-13
2013-14
78,190
84,110
84,100
83,480
90,240
7,810
8,370
8,010
8,000
8,670
4,140
4,370
4,330
4,110
4,560
1,950
2,040
1,980
2,180
2,560
92,090
98,890
98,420
97,770
106,030
92,030
98,720
98,180
98,170
106,040
74,610
84,860
83,180
83,640
88,300
7,780
8,360
7,980
8,050
8,380
3,940
4,410
4,370
4,130
4,400
1,880
2,080
1,930
2,150
2,460
88,210
99,710
97,460
97,970
103,540
87,960
99,060
97,680
98,020
103,150
6,860
7,700
7,300
7,360
7,850
8,330
8,290
7,100
6,590
8,690
7,800
7,330
8,050
8,230
7,570
8,360
8,700
7,330
620
710
700
690
720
830
780
690
700
810
730
750
790
830
730
840
910
940
360
390
360
380
430
380
400
330
330
460
410
390
400
410
390
450
460
430
200
210
190
190
190
240
220
240
170
240
260
250
240
200
230
200
280
230
8,040
9,010
8,550
8,620
9,190
9,780
9,690
8,360
7,790
10,200
9,200
8,720
9,480
9,670
8,920
9,850
10,350
8,930
8,310
8,650
8,870
8,660
8,650
9,500
9,080
9,120
9,300
9,250
9,080
9,220
9,460
9,230
9,400
9,390
9,610
9,310
2009
2010
2011
2012
2013
Monthly
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
R
R
R
R
R
R
P
P
R
P
= Provisional.
1
2
4
Historic: Commentary and Charts
Residential transactions
The long term movement in the number of residential property transactions shown in Chart 4A reflects the
general performance of the housing market over the past nine years. The clearest feature of the time series
is the sharp fall in residential transactions at the end of 2007, coinciding with the housing market slump and
credit crunch. Prior to this point, the number of transactions had risen constantly over a number of years to
reach a peak of around 150,000 per month. Since December 2008, there has been a slow but steady
upward trend in the seasonally adjusted count. This trend grew at a faster rate between April 2013 and
February 2014; however since then the rate has declined slightly.
The seasonally adjusted transaction estimate shows a distinct peak at December 2009. This is associated
with the end of the Stamp Duty Land Tax 'holiday', during which the lower tax threshold was temporarily
raised to £175,000. The forestalling effects of this 'holiday' coming to an end also show as higher than
normal transactions in the previous few months as homebuyers brought forward their purchases. There is a
corresponding drop in the early months of 2010.
There is another, smaller, peak and trough in March and April 2012 due to the ending of the SDLT first time
buyers' relief. This relief was in effect from 25 March 2010 to 24 March 2012 inclusive. Around 7,000
transactions per month benefitted from this relief, although this number doubled in its final month.
Comparison of the not seasonally adjusted and seasonally adjusted data in Chart 4A shows that activity in
the residential housing market is strongest in the summer months with a clear low point around the end of
the year.
Chart 4A
Total UK Residential Property Transactions
180,000
160,000
140,000
Transactions
120,000
100,000
80,000
60,000
40,000
20,000
Seasonally adjusted
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
Apr-14
Aug-14
0
4
Non-residential transactions
The non-residential property market has mirrored, to a large extent, the ups and downs of the residential
market. The credit crunch effects from 2007 triggered a similar fall in transactions but not to quite the same
extent as in the residential market.
The trend in non-residential property transactions has been that of a generally flat seasonal cycle between
September 2010 and September 2013, but since then there has been a rising trend. Unlike the residential
market, there have been no temporary tax reliefs or 'holidays' in recent years to distort the underlying trend.
The seasonal pattern of the non residential series is much less pronounced than that of the residential
market, although there tends to be a low point at the start of the calendar year, with a corresponding peak
each March coinciding with the end of the financial year.
Chart 4B
Total UK Non-Residential Property Transactions
16,000
14,000
12,000
8,000
6,000
4,000
2,000
Seasonally adjusted
0
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
Apr-14
Aug-14
Transactions
10,000
4
Residential and non-residential transactions for the UK constituent countries
The following tables are produced from the historical data on pages 5 and 6 and show the individual
breakdowns of residential and non-residential property transactions for each of the United Kingdom's four
constituent countries.
Unlike the UK aggregate series, these country breakdowns are not seasonally adjusted. However, they do
exhibit similar seasonal patterns and care should be taken when examining month to month movements.
As the volume of residential and non-residential property transactions varies greatly, the transactions are
displayed on a dual axis chart (residential on the left axis and non-residential on the right).
Chart 4C
Residential & Non-Residential Property Transactions
for England - Not seasonally adjusted
150,000
15,000
100,000
10,000
50,000
5,000
Residential
Non-Residential
0
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
Apr-14
Aug-14
0
Chart 4D
for Scotland - Not seasonally adjusted
20,000
1,600
15,000
1,200
10,000
800
5,000
400
Residential
Non-Residential
0
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
Apr-14
Aug-14
0
4
Chart 4E
for Wales - Not seasonally adjusted
8,000
800
6,000
600
4,000
400
2,000
200
Residential
Non-Residential
0
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
Apr-14
Aug-14
0
Chart 4F
6,000
600
4,000
400
2,000
200
Residential
Non-Residential
0
0
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
Apr-14
Aug-14
Transactions
for Northern Ireland - Not seasonally adjusted
5
Annual, Quarterly and Monthly Tables
Residential - Historic
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
2005-06
1,209,080
2006-07
1,433,200
2007-08
1,256,540
2008-09
664,250
2009-10
770,600
2010-11
755,160
2011-12
794,170
2012-13
799,260
2013-14
977,110
131,240
146,240
143,340
83,990
73,510
72,140
73,090
73,720
89,120
59,880
72,290
63,050
35,030
37,580
37,230
38,990
39,200
46,970
43,920
50,980
29,880
12,790
15,290
14,190
14,710
15,750
20,150
1,444,120
1,702,710
1,492,810
796,060
896,980
878,720
920,960
927,930
1,133,350
1,443,540
1,710,320
1,473,810
792,750
892,890
876,580
916,620
929,440
1,139,950
2006
1,404,710
2007
1,361,510
2008
750,930
2009
735,220
2010
761,000
2011
762,140
2012
803,800
2013
924,470
144,400
147,210
96,360
71,840
73,120
70,740
73,830
85,470
71,010
68,080
38,850
36,490
37,260
37,870
39,280
44,820
50,330
37,010
14,060
14,800
14,390
14,040
15,570
18,800
1,670,450
1,613,810
900,200
858,350
885,770
884,790
932,480
1,073,560
1,668,060
1,618,850
916,820
847,580
879,060
883,890
931,960
1,067,280
5
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Quarterly (calendar year)
2005-Q2
283,570
2005-Q3
322,520
2005-Q4
319,370
2006-Q1
283,620
2006-Q2
350,020
2006-Q3
384,790
2006-Q4
386,280
2007-Q1
312,110
2007-Q2
357,710
2007-Q3
374,700
2007-Q4
316,990
2008-Q1
207,140
2008-Q2
216,750
2008-Q3
171,290
2008-Q4
155,750
2009-Q1
120,460
2009-Q2
167,270
2009-Q3
210,100
2009-Q4
237,390
2010-Q1
155,840
2010-Q2
193,700
2010-Q3
213,350
2010-Q4
198,110
2011-Q1
150,000
2011-Q2
183,020
2011-Q3
218,580
2011-Q4
210,540
2012-Q1
182,030
2012-Q2
191,140
2012-Q3
213,130
2012-Q4
217,500
2013-Q1
177,490
2013-Q2
217,750
2013-Q3
256,680
2013-Q4
272,550
2014-Q1
230,130
2014-Q2 R
261,860
2014-Q3 R
284,620
32,840
37,040
34,530
26,830
38,350
40,150
39,070
28,670
40,810
41,040
36,690
24,800
30,110
22,500
18,950
12,430
17,530
20,110
21,770
14,100
19,480
20,630
18,910
13,120
18,130
20,820
18,670
15,470
19,320
19,430
19,610
15,360
21,840
23,870
24,400
19,010
25,380
25,510
14,110
15,730
16,130
13,910
17,730
19,090
20,280
15,190
17,990
18,510
16,390
10,160
11,560
8,700
8,430
6,340
8,700
10,100
11,350
7,430
9,830
9,950
10,050
7,400
9,110
10,610
10,750
8,520
9,660
10,100
11,000
8,440
10,790
12,220
13,370
10,590
12,720
13,470
10,340
11,590
11,670
10,320
13,170
13,120
13,720
10,970
11,730
8,680
5,630
3,840
4,280
2,960
2,980
2,570
3,590
4,080
4,560
3,060
3,790
3,930
3,610
2,860
3,370
3,880
3,930
3,530
3,580
4,050
4,410
3,710
4,270
5,130
5,690
5,060
5,760
6,050
340,860
386,880
381,700
334,680
419,270
457,150
459,350
366,940
428,240
442,930
375,700
245,940
262,700
205,450
186,110
141,800
197,090
244,390
275,070
180,430
226,800
247,860
230,680
173,380
213,630
253,890
243,890
209,550
223,700
246,710
252,520
205,000
254,650
297,900
316,010
264,790
305,720
329,650
331,820
346,750
367,120
397,850
405,320
425,580
439,310
440,110
416,040
408,260
354,440
295,070
258,870
188,210
174,670
171,000
193,170
223,590
259,820
216,310
224,290
227,300
211,160
213,830
212,080
226,800
231,180
246,560
222,100
227,400
235,900
244,040
254,320
273,600
295,320
316,710
305,690
303,820
5
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Monthly
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05
88,840
91,030
103,700
107,770
107,040
107,710
100,650
103,570
115,150
10,540
10,180
12,120
12,530
12,000
12,510
11,410
11,690
11,430
4,520
4,540
5,050
5,160
5,200
5,370
5,090
5,290
5,750
3,290
3,260
3,790
3,710
3,910
3,970
3,710
3,990
3,970
107,190
109,010
124,660
129,170
128,150
129,560
120,860
124,540
136,300
109,180
110,400
112,240
113,560
115,700
117,490
120,890
119,420
126,810
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
83,980
87,550
112,090
101,830
113,160
135,030
125,720
132,180
126,890
124,980
127,530
133,770
8,500
7,150
11,180
10,690
11,990
15,670
12,790
13,430
13,930
13,030
13,120
12,920
3,970
4,310
5,630
5,080
5,680
6,970
6,090
6,440
6,560
6,660
6,580
7,040
3,290
3,220
3,810
3,670
4,200
5,300
3,890
4,510
4,720
4,600
4,540
4,580
99,740
102,230
132,710
121,270
135,030
162,970
148,490
156,560
152,100
149,270
151,770
158,310
132,200
133,960
131,690
135,480
133,380
136,460
140,970
142,560
142,050
143,680
146,340
149,290
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
97,580
96,560
117,970
105,780
117,560
134,370
128,660
136,790
109,250
113,080
112,770
91,140
9,170
7,580
11,920
11,700
12,750
16,360
13,290
15,480
12,270
12,700
13,810
10,180
4,720
4,530
5,940
5,280
5,830
6,880
6,390
6,850
5,270
5,660
5,790
4,940
3,410
3,610
3,950
3,690
3,970
4,070
3,050
3,210
2,420
2,260
1,950
1,420
114,880
112,280
139,780
126,450
140,110
161,680
151,390
162,330
129,210
133,700
134,320
107,680
148,480
147,150
144,480
136,360
140,010
139,670
138,550
136,610
133,100
125,040
119,970
109,430
5
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
67,220
71,820
68,100
73,130
74,470
69,150
62,400
57,810
51,080
59,710
45,780
50,260
7,800
7,920
9,080
9,910
10,620
9,580
8,020
7,830
6,650
8,000
5,650
5,300
3,110
3,430
3,620
3,810
4,000
3,750
3,130
2,900
2,670
3,290
2,460
2,680
1,220
1,370
1,250
1,500
1,480
1,300
1,010
1,020
930
1,020
1,020
940
79,350
84,540
82,050
88,350
90,570
83,780
74,560
69,560
61,330
72,020
54,910
59,180
103,580
99,240
92,250
94,150
87,580
77,140
67,050
61,770
59,390
62,620
55,600
56,450
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
34,750
36,580
49,130
48,840
54,720
63,710
73,760
68,080
68,260
76,320
71,150
89,920
3,920
3,560
4,950
5,220
5,870
6,440
7,110
6,370
6,630
7,380
6,950
7,440
1,670
1,850
2,820
2,580
2,900
3,220
3,700
3,130
3,270
3,710
3,430
4,210
720
760
1,090
1,050
1,150
1,390
1,520
1,240
1,320
1,430
1,380
1,750
41,060
42,750
57,990
57,690
64,640
74,760
86,090
78,820
79,480
88,840
82,910
103,320
51,600
55,980
63,420
61,780
63,700
67,690
71,650
75,440
76,500
80,270
80,510
99,040
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
43,110
50,920
61,810
60,830
60,500
72,370
76,590
70,320
66,440
67,380
65,080
65,650
4,370
4,010
5,720
6,380
5,870
7,230
7,550
6,540
6,540
7,020
6,290
5,600
1,920
2,460
3,050
3,130
3,090
3,610
3,630
3,270
3,050
3,450
3,340
3,260
830
980
1,250
1,320
1,100
1,370
1,420
1,290
1,220
1,340
1,180
1,090
50,230
58,370
71,830
71,660
70,560
84,580
89,190
81,420
77,250
79,190
75,890
75,600
63,890
76,190
76,230
72,120
75,440
76,730
77,550
74,950
74,800
72,450
71,940
66,770
5
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
44,970
47,830
57,200
58,700
56,820
67,500
71,550
73,720
73,310
67,030
69,730
73,780
3,980
3,770
5,370
5,790
5,700
6,640
7,000
6,610
7,210
6,170
6,390
6,110
2,120
2,370
2,910
2,850
2,830
3,430
3,450
3,600
3,560
3,370
3,620
3,760
830
910
1,120
1,170
990
1,210
1,180
1,250
1,450
1,270
1,370
1,290
51,900
54,880
66,600
68,510
66,340
78,780
83,180
85,180
85,530
77,840
81,110
84,940
70,930
71,160
71,740
71,120
68,730
72,230
73,580
76,270
76,950
76,820
76,470
77,890
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
52,630
54,440
74,960
53,590
64,960
72,590
71,240
77,690
64,200
71,490
76,910
69,100
4,540
4,100
6,830
5,610
6,110
7,600
6,140
7,460
5,830
6,450
7,090
6,070
2,350
2,570
3,600
2,860
3,100
3,700
3,280
3,750
3,070
3,620
3,870
3,510
1,010
1,190
1,330
980
1,180
1,420
1,220
1,540
1,290
1,500
1,580
1,330
60,530
62,300
86,720
63,040
75,350
85,310
81,880
90,440
74,390
83,060
89,450
80,010
79,430
77,290
89,840
70,040
76,990
75,070
75,730
75,450
76,220
77,010
78,730
80,160
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
53,930
56,050
67,510
61,780
78,150
77,820
85,280
90,800
80,600
87,670
93,950
90,930
4,610
4,370
6,380
6,270
7,780
7,790
7,650
8,700
7,520
8,110
8,990
7,300
2,340
2,680
3,420
2,960
3,790
4,040
4,100
4,260
3,860
4,280
4,610
4,480
1,110
1,170
1,430
1,170
1,530
1,570
1,650
1,820
1,660
1,790
2,030
1,870
61,990
64,270
78,740
72,180
91,250
91,220
98,680
105,580
93,640
101,850
109,580
104,580
79,670
82,240
82,130
79,250
86,240
88,830
89,290
91,940
92,370
95,150
99,320
100,850
75,750
75,100
79,280
81,090
87,880
92,890
95,340
98,320
90,960
100,040
83,120
6,500
5,680
6,830
7,590
8,830
8,960
8,160
9,490
7,860
9,420
9,310
3,350
3,470
3,770
3,890
4,350
4,480
4,700
4,620
4,150
4,820
4,040
1,680
1,690
1,690
1,720
2,000
2,040
1,980
2,120
1,950
2,350
1,890
87,280
85,940
91,570
94,290
103,060
108,370
110,180
114,550
104,920
116,630
98,360
103,560
109,560
103,590
102,560
101,590
101,540
100,860
101,380
101,580
100,560
98,490
Jan-14
Feb-14
Mar-14
Apr-14 R
May-14 R
Jun-14 R
Jul-14 R
Aug-14 R
Sep-14 R
Oct-14 P
Nov-14 P
R
P
= Provisional.
1
2
6
Non-Residential - Historic
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
2005-06
112,700
2006-07
113,310
2007-08
114,570
2008-09
86,750
2009-10
78,190
2010-11
84,110
2011-12
84,100
2012-13
83,480
2013-14
90,240
10,190
11,130
12,320
9,430
7,810
8,370
8,010
8,000
8,670
6,190
6,440
6,340
4,800
4,140
4,370
4,330
4,110
4,560
5,060
5,340
4,610
2,600
1,950
2,040
1,980
2,180
2,560
134,140
136,220
137,840
103,580
92,090
98,890
98,420
97,770
106,030
133,350
136,880
138,380
102,880
92,030
98,720
98,180
98,170
106,040
2006
113,020
2007
115,290
2008
97,930
2009
74,610
2010
84,860
2011
83,180
2012
83,640
2013
88,300
10,880
12,300
10,560
7,780
8,360
7,980
8,050
8,380
6,320
6,420
5,500
3,940
4,410
4,370
4,130
4,400
5,200
5,010
3,100
1,880
2,080
1,930
2,150
2,460
135,420
139,020
117,090
88,210
99,710
97,460
97,970
103,540
135,550
139,090
116,600
87,960
99,060
97,680
98,020
103,150
6
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Quarterly (calendar year)
2005-Q2
27,780
2005-Q3
28,630
2005-Q4
27,830
2006-Q1
28,460
2006-Q2
28,120
2006-Q3
27,250
2006-Q4
29,190
2007-Q1
28,750
2007-Q2
28,490
2007-Q3
28,640
2007-Q4
29,410
2008-Q1
28,030
2008-Q2
27,560
2008-Q3
22,860
2008-Q4
19,480
2009-Q1
16,850
2009-Q2
17,150
2009-Q3
19,360
2009-Q4
21,250
2010-Q1
20,430
2010-Q2
21,670
2010-Q3
21,140
2010-Q4
21,620
2011-Q1
19,680
2011-Q2
20,090
2011-Q3
21,560
2011-Q4
21,850
2012-Q1
20,600
2012-Q2
20,510
2012-Q3
20,590
2012-Q4
21,940
2013-Q1
20,440
2013-Q2
21,030
2013-Q3
22,360
2013-Q4
24,470
2014-Q1
22,380
2014-Q2 R
23,180
2014-Q3 R
24,160
2,400
2,450
2,590
2,750
2,580
2,530
3,020
3,000
3,180
2,930
3,190
3,020
3,090
2,290
2,160
1,890
1,900
1,900
2,090
1,920
2,250
2,100
2,090
1,930
1,980
2,040
2,030
1,960
2,030
1,960
2,100
1,910
2,040
2,100
2,330
2,200
2,270
2,400
1,520
1,590
1,560
1,520
1,630
1,470
1,700
1,640
1,590
1,540
1,650
1,560
1,670
1,250
1,020
860
950
1,000
1,130
1,060
1,150
1,110
1,090
1,020
1,120
1,110
1,120
980
1,020
1,000
1,130
960
1,100
1,130
1,210
1,120
1,200
1,250
1,350
1,230
1,280
1,200
1,390
1,150
1,460
1,340
1,450
1,190
1,030
940
1,000
620
540
440
450
480
510
510
550
470
550
470
480
480
500
520
560
540
530
550
670
590
650
650
750
630
33,050
33,900
33,260
33,930
33,720
32,400
35,370
34,730
34,710
34,300
35,280
33,550
33,320
27,020
23,200
20,040
20,450
22,740
24,980
23,920
25,620
24,820
25,350
23,100
23,670
25,190
25,500
24,060
24,120
24,090
25,700
23,860
24,840
26,180
28,660
26,350
27,400
28,440
32,820
34,170
32,860
33,500
33,770
33,560
34,720
34,830
34,800
35,150
34,310
34,120
33,090
27,000
22,390
20,400
20,580
22,850
24,130
24,470
25,630
24,920
24,040
24,130
23,940
24,780
24,830
24,630
24,440
24,220
24,730
24,780
24,960
26,180
27,230
27,670
27,760
28,020
6
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Monthly
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05
9,200
8,620
9,960
10,120
9,100
9,410
8,710
9,400
9,720
800
810
790
880
770
800
770
900
920
510
490
520
550
540
500
490
520
550
410
470
470
450
360
420
410
440
430
10,920
10,390
11,740
12,000
10,770
11,130
10,380
11,260
11,620
10,400
11,140
11,280
12,240
11,090
10,840
10,970
10,730
11,160
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
8,610
7,870
11,980
9,270
8,660
10,190
8,720
9,030
9,500
9,420
9,770
10,000
780
750
1,220
860
820
900
760
930
840
1,010
1,020
990
450
440
630
530
510
590
510
480
480
590
560
550
350
350
500
460
460
470
370
370
410
450
490
520
10,190
9,410
14,330
11,120
10,450
12,150
10,360
10,810
11,230
11,470
11,840
12,060
11,260
11,120
11,120
11,640
10,930
11,200
11,140
11,060
11,360
11,220
11,700
11,800
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
9,020
8,110
11,620
9,220
9,110
10,160
9,840
9,860
8,940
10,040
10,270
9,100
870
860
1,270
1,020
1,060
1,100
920
1,060
950
1,040
1,190
960
520
480
640
530
520
540
530
520
490
600
540
510
380
420
540
480
490
480
430
420
340
410
340
280
10,790
9,870
14,070
11,250
11,180
12,280
11,720
11,860
10,720
12,090
12,340
10,850
11,650
11,670
11,510
11,370
11,650
11,780
11,630
11,970
11,550
11,470
11,640
11,200
6
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
8,910
8,640
10,480
11,460
8,030
8,070
8,090
6,810
7,960
7,360
5,690
6,430
870
940
1,210
1,220
950
920
770
710
810
810
660
690
490
450
620
720
500
450
440
390
420
370
310
340
320
290
330
450
270
280
240
190
190
200
180
160
10,590
10,320
12,640
13,850
9,750
9,720
9,540
8,100
9,380
8,740
6,840
7,620
11,450
11,250
11,420
12,940
10,490
9,660
9,160
8,690
9,150
8,100
7,190
7,100
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
5,100
4,790
6,960
5,650
5,120
6,380
6,730
5,870
6,760
6,920
6,720
7,610
590
540
760
600
640
660
600
590
710
680
720
690
280
250
330
300
310
340
360
300
340
350
350
430
140
120
180
140
150
160
160
120
200
180
160
170
6,110
5,700
8,230
6,690
6,220
7,540
7,850
6,880
8,010
8,130
7,950
8,900
6,850
6,750
6,800
6,680
6,800
7,100
7,420
7,780
7,650
7,870
8,040
8,220
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
5,670
6,070
8,690
7,050
6,260
8,360
7,410
6,540
7,190
7,050
7,340
7,230
530
560
830
720
710
820
750
670
680
740
690
660
280
320
460
360
350
440
400
350
360
390
380
320
150
150
210
190
170
190
160
160
150
170
190
190
6,630
7,100
10,190
8,320
7,490
9,810
8,720
7,720
8,380
8,350
8,600
8,400
7,650
8,420
8,400
7,920
8,570
9,140
8,620
8,060
8,240
8,230
8,210
7,600
6
Seasonally
adjusted*
Northern
England
Scotland
Wales
Ireland
UK
UK
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
5,730
5,860
8,090
6,640
6,310
7,140
6,870
6,930
7,760
6,890
7,290
7,670
510
600
820
620
670
690
640
680
720
650
720
660
260
320
440
390
310
420
390
340
380
360
400
360
120
180
170
160
160
160
150
140
190
150
160
190
6,620
6,960
9,520
7,810
7,450
8,410
8,050
8,090
9,050
8,050
8,570
8,880
8,080
8,280
7,770
7,910
7,890
8,140
8,090
8,220
8,470
8,390
8,080
8,360
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
6,370
5,920
8,310
6,910
6,880
6,720
7,040
6,910
6,640
7,190
7,620
7,130
590
600
770
620
790
620
650
680
630
710
750
640
290
280
410
380
320
320
320
330
350
390
430
310
150
170
200
160
210
190
180
170
190
190
170
170
7,400
6,970
9,690
8,070
8,200
7,850
8,190
8,090
7,810
8,480
8,970
8,250
8,410
7,990
8,230
8,480
8,380
7,580
8,050
8,040
8,130
8,010
8,390
8,330
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
6,280
5,790
8,370
7,040
7,130
6,860
7,700
7,300
7,360
7,850
8,330
8,290
540
580
790
680
740
620
710
700
690
720
830
780
300
270
390
370
370
360
390
360
380
430
380
400
170
180
200
230
240
200
210
190
190
190
240
220
7,290
6,820
9,750
8,320
8,480
8,040
9,010
8,550
8,620
9,190
9,780
9,690
8,030
8,130
8,620
8,100
8,550
8,310
8,650
8,870
8,660
8,650
9,500
9,080
Jan-14
Feb-14
Mar-14
Apr-14 R
May-14 R
Jun-14 R
Jul-14 R
Aug-14 R
Sep-14 R
Oct-14 P
Nov-14 P
7,100
6,590
8,690
7,800
7,330
8,050
8,230
7,570
8,360
8,700
7,330
690
700
810
730
750
790
830
730
840
910
940
330
330
460
410
390
400
410
390
450
460
430
240
170
240
260
250
240
200
230
200
280
230
8,360
7,790
10,200
9,200
8,720
9,480
9,670
8,920
9,850
10,350
8,930
9,120
9,300
9,250
9,080
9,220
9,460
9,230
9,400
9,390
9,610
9,310
R
P
= Provisional.
1
2
7
Background
7.1 Stamp Duty Land Tax (SDLT) Background
Stamp Duty Land Tax is payable on the purchase or transfer of most property or land in the UK. The
SDLT due on a transaction is calculated as a percentage of the amount paid for the property, with higher
rates applied to higher value transactions. Some transactions will qualify for a relief or exemption.
Different rates and thresholds will also apply depending on whether the property is being used for
residential or non-residential purposes, and whether the property is sold as a freehold or leasehold.
Most UK land and property transactions must be notified to HM Revenue & Customs (HMRC) on a Stamp
Duty Land Tax return within a certain time limit - even if no tax is due. Transactions with a value of less
than £40,000 do not need to be notified.
Stamp Duty Land Tax replaced Stamp Duty on Land and Property on 1 December 2003.
More information about SDLT, the rates and thresholds, the reliefs available, and the definitions of
residential and non-residential can be found on the HMRC website (follow the hyperlinks in section 7.5).
7.2 Introduction to Statistics: Methodology & Explanation
This publication presents monthly estimates of the number of residential and non-residential property
transactions in the UK and its constituent countries.
Data Sources:
The tables in this publication are based on HMRC's Stamp Duty Land Tax database, which records
information from the Land Transaction Return. Not all property transactions are captured in the database.
As well as transactions where the chargeable consideration is less than £40,000, other instances where no
notification is required include transfers in connection with divorce and grants of leases of less than 7 years.
Rounding:
All figures in the tables are estimates that are rounded to the nearest ten to indicate the level of uncertainty
(see Country Breakdowns for more information).
Revisions and Timing of Publication:
Transactions are recorded in the database by the date of completion and are presented on that basis in this
publication. However, purchasers have 30 days from the date of completion to submit their land transaction
return before incurring a penalty. To produce the monthly property transaction figures in time for publication
each month, a ‘snapshot’ of the relevant data on HMRC's Stamp Duty Land Tax database is taken in the
second week of the month. The date of this snapshot is maintained in order to provide consistency and is
selected to provide users with the best balance between accurate and timely estimates.
The first publication of the latest estimates is timed to complement housing market data from other sources,
which are released within a similar timeframe. Section 7.5 contains links to some related statistics.
Therefore at the time of first release, estimates for the most recent month are based on incomplete data and
need to be adjusted upward to compensate. This adjustment is based upon the difference between initial
and final estimates in previous months.
A similar but smaller adjustment is also made to the penultimate month.
For this reason, all figures in the tables on pages 2, 3, 5 and 6 for the most recent two months are marked
as provisional and are subject to significant revision in subsequent publications.
The table on page 8 shows the average absolute percentage revision between initial and final property
transaction estimates. These are the average amounts that provisional figures can be expected to change
before they become final, which gives an indication of the size (but not direction) of the uncertainty in the
latest estimates.
Estimates for earlier time periods may also change slightly between publications as late returns are
received and corrections are made to the Stamp Duty Land Tax database.
7
Background
Country Breakdowns:
The split of property transactions between England, Scotland, Wales and Northern Ireland is based upon the
location of the property. There are a small minority of cases where this data is not recorded on the stamp
duty land tax database and these transactions are allocated to a country on a pro-rata basis to maintain
the recorded proportions.
Seasonal Adjustment:
The number of property transactions in the UK is highly seasonal, with more activity in the summer months
and less in the winter. This regular annual pattern can sometimes mask the underlying movements and
trends in the data series so the publication also presents the UK aggregate transaction figures on a
seasonally adjusted basis. The country breakdowns are also seasonal but are not currently
seasonally adjusted.
The seasonally adjusted series are estimated using the X12ARIMA software, as is standard across
National Statistics. Adjustments are made for both the time of year and the construction of the calendar,
including corrections for the position of Easter and the number of trading days in a particular month.
7.3 Statistical Quality
HMRC's statement on statistical quality is published in "HMRC: Official Statistics" on the HMRC website
(hyperlinked in section 7.5).
These statistics are based on an administrative data source collected by HMRC in the running of its
business (collecting tax). Any apparent discrepancy between totals and the sum of the constituents in
the bulletin is due to rounding.
The quality of these statistics depends on the purpose that they are intended to be used for. The
definitions used within this publication are defined by tax law, and whether or not a property transaction
is counted within the estimates is dependent on the submission of a Land Transaction Return.
Transactions where no return is required, or is required but not submitted, will not be counted in the
estimates. The statistics will therefore provide a good indication of the trend in the numbers of residential
and non-residential property transactions but may not accurately reflect the total number of properties
bought, sold or transferred.
7.4 Related Statistics
HMRC publish more detailed breakdowns of the number and value of property transactions on an annual
basis. These National Statistics can be found alongside the Monthly Property Transactions publication on
the HMRC website (see hyperlink section)
HMRC publish annual tables of Stamp Duty Land Tax collected, which is taken from the same data source
as the transactions data. This is broken down into small geographical units including by Local Authority
and by parliamentary constituency. (A link can be found in section 7.5)
There are many other National and Official Statistics publications relevant to the UK housing market. The
Valuation Office Agency (VOA) publishes statistics on council tax and on the private rental market. The
Office for National Statistics (ONS) and HM Land Registry both produce statistics on UK House Prices.
The Dept. for Communities and Local Government (DCLG) released a variety of publications on housing
and associated topics. (Links to the relevant website can be found in the hyperlink section)
7
Background
7.5 Hyperlinks
Useful Links
Introduction to SDLT:
http://www.hmrc.gov.uk/sdlt/intro/basics.htm#1
Current SDLT Rates and Thresholds:
https://www.gov.uk/government/publications/rates-and-allowances-stamp-duty-land-tax
Historic SDLT Rates and Thresholds:
http://webarchive.nationalarchives.gov.uk/*/http://www.hmrc.gov.uk/statistics/stamp-duty/table-a9.xls
Land Transaction Return Guidance Notes:
http://www.hmrc.gov.uk/sdlt/sdlt1.pdf
Statement of Administrative Sources general note:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/278306/cop-admin-sources_1_
X13ARIMA homepage:
http://www.census.gov/srd/www/x13as/
HMRC: Official Statistics
https://www.gov.uk/government/organisations/hm-revenue-customs/about/statistics
HMRC Annual Report and Resource Accounts
https://www.gov.uk/government/publications/hmrc-annual-report-and-accounts-2013-to-2014
Related Statistics
Archived versions of the Monthly Property Transactions:
http://webarchive.nationalarchives.gov.uk/*/http:/hmrc.gov.uk/thelibrary/national-statistics.htm
Historic Property Transactions, Monthly, Quarterly and Annual, 1959 to 2005 (Table 5.5)
http://www.ons.gov.uk/ons/rel/elmr/economic-trends--discontinued-/2006-edition/index.html
Annual Property Transactions Publication:
https://www.gov.uk/government/collections/property-transactions-in-the-uk
Stamp Duties collected (T15.1 to T15.5):
https://www.gov.uk/government/collections/stamp-duties-statistics
Measuring Tax Gaps:
https://www.gov.uk/government/publications/measuring-tax-gaps-tables
Tax expenditures and ready reckoners:
https://www.gov.uk/government/collections/tax-expenditures-and-ready-reckoners
ONS House Price Index:
http://www.ons.gov.uk/ons/taxonomy/index.html?nscl=House+Price+Indices
Valuation Office Agency statistics:
http://www.voa.gov.uk/corporate/publications/statistics.html
HM Land Registry statistics:
http://www.landregistry.gov.uk/public/house-prices-and-sales
Dept. for Communities and Local Government statistics:
https://www.gov.uk/government/organisations/department-for-communities-and-localgovernment/series/housing-market
Other links
Office for National Statistics (ONS):
http://www.ons.gov.uk/ons/index.html
Office for Budget Responsibility (OBR):
http://budgetresponsibility.independent.gov.uk/
UK Statistics Authority:
http://www.statisticsauthority.gov.uk/
8
Changes to Duty Rates and Statement of Revisions
Rates of Stamp Duty - Conveyances and transfers of land, buildings and property other than stocks and shares.
System from 4th December 2014
Date
04-12-2014
Residential
Nil rate
£
0.5%
£
1.0%
£
Threshold and rates of stamp duty 4
2.0%
2.5%
3.0%
3.5%
£
£
£
£
1.5%
£
4.0%
£
5.0%
£
7.0%
£
10.0%
£
12.0%
£
15.0%
£
Portion
Over
925,000
up to
1,500,000
Portion
Over
1,500,000
Whole price
3
If over
500,000
by NNP
4
Portion
up to
125,000
- Whole price
if over
150,000
-
Non-Residential Whole price
up to
150,000
-
-
Portion
Over
125,000
up to
250,000
-
- Whole price
if over
250,000
-
- Whole price
if over
500,000
-
Portion
Over
250,000
up to
925,000
-
-
-
-
-
Table updated December 2014
System prior to 4th December 2014
Nil rate
up to
Date
01-08-1958
01-08-1963
01-08-1967
01-08-1972
01-05-1974 1
06-04-1980
22-03-1982
13-03-1984
20-12-1991
20-08-1992
16-03-1993
08-07-1997
24-03-1998
16-03-1999
28-03-2000
01-12-2003 2
(Residential)
(Non-Residential)
17-03-2005
Residential
Non-Residential
23-03-2006
Residential
Non-Residential
06-04-2011
Residential
Non-Residential
21-03-2012
Residential
Non-Residential
22-03-2012
Residential
Non-Residential
20-03-2014
Residential
Non-Residential
0.5%
if exceeds
1.0%
if exceeds
1.5%
if exceeds
Threshold and rates of stamp duty 4
2.0%
2.5%
3.0%
3.5%
if exceeds
if exceeds
if exceeds
if exceeds
4.0%
if exceeds
5.0%
if exceeds
7.0%
if exceeds
10.0%
if exceeds
12.0%
if exceeds
15.0%
if exceeds
£
£
£
£
£
£
£
£
£
£
£
£
£
£
3,500
4,500
5,500
10,000
15,000
20,000
25,000
30,000
250,000
30,000
60,000
60,000
60,000
60,000
60,000
3,500
4,500
5,500
10,000
15,000
20,000
25,000
-
4,500
6,000
7,000
15,000
20,000
25,000
30,000
30,000
250,000
30,000
60,000
60,000
60,000
60,000
60,000
5,250
25,000
30,000
35,000
250,000
-
6,000
30,000
35,000
40,000
500,000
250,000
-
250,000
-
500,000
250,000
500,000
-
500,000
-
-
-
-
-
60,000
150,000
-
60,000
150,000
-
-
-
250,000
250,000
-
500,000
500,000
-
-
-
-
-
120,000
150,000
-
120,000
150,000
-
-
-
250,000
250,000
-
500,000
500,000
-
-
-
-
-
125,000
150,000
-
125,000
150,000
-
-
-
250,000
250,000
-
500,000
500,000
-
-
-
-
-
125,000
150,000
-
125,000
150,000
-
-
-
250,000
250,000
-
500,000
500,000
1,000,000
-
-
-
-
-
125,000
150,000
-
125,000
150,000
-
-
-
250,000
250,000
-
500,000
500,000
1,000,000
-
-
-
-
2,000,000
-
3
125,000
150,000
-
125,000
150,000
-
-
-
250,000
250,000
-
500,000
500,000
1,000,000
-
-
-
-
2,000,000
-
3
125,000
150,000
-
125,000
150,000
-
-
-
250,000
250,000
-
500,000
500,000
1,000,000
-
-
-
-
500,000
-
3
Table updated December 2014
8
Changes to Duty Rates and Statement of Revisions
Reference Notes (for both Rates of Stamp Duty tables above)
1 Northern Ireland 1 August 1974.
2 From the 1st December 2003 separate starting rates were applied to residential and commercial transactions:
i residential property transactions, consist mainly of home purchases but also include other transactions which cannot be regarded as purchases for owner
occupation e.g. the separate purchase of a private garage or the purchase of the freehold by the leaseholder;
ii commercial property covers all land and commercial and industrial property e.g. shops, commercial garages, hotels, public houses etc.
3 Higher rate for corporate bodies - From 20 March 2014 SDLT is charged at 15 per cent on interests in residential dwellings costing more than £500,000 purchased by certain
non-natural persons. Previously (From 21 March 2012) the threshold had been £2 million. This broadly includes bodies corporate, for example companies, collective investment
schemes and all partnerships with one or more members who are either a body corporate or a collective investment scheme. There are exclusions for companies acting in their
capacity as trustees for a settlement and property developers who meet certain conditions.
4 From 4 December, SDLT for residential property is charged at different rates depending on the portion of the purchase price that falls within each rate band.
There is no change to how SDLT is calculated on purchases of non-residential property or on the rent payable when a new lease is granted.
Average Revisions
This table shows the average absolute percentage revision between initial and final property transaction estimates, broken down into not seasonally adjusted, seasonally adjusted, residential and
non-residential categories. These are the average amounts that provisional figures can be expected to change before they become final, which gives an indication of the size (but not direction) of
the uncertainty in the latest estimates. Note that there is greater uncertainty in the non-residential estimates as there tends to be a greater lag between completion of a transaction and receipt of
the Land Transaction Return.
For information on the methodology used and the causes of revisions see section 7.2 on page 7.
Not Seasonally Adjusted
Residential
Non-Residential
Seasonally Adjusted
Residential
Non-Residential
January
February
March
April
May
June
July
August
September
October
November
December
4%
3%
5%
2%
3%
3%
3%
5%
6%
3%
3%
3%
14%
16%
10%
12%
4%
4%
4%
13%
6%
18%
11%
13%
5%
3%
5%
4%
3%
4%
5%
3%
6%
4%
4%
3%
19%
21%
22%
12%
3%
11%
6%
10%
3%
11%
15%
8%
Total
4%
11%
4%
12%
9
Other Information
9.1 Contact point for statistical enquiries
Mark Dickson
KAI Tax Gaps & Indirect Taxes
HM Revenue & Customs
Room 2E/12
100 Parliament Street
London
SW1A 2BQ
: 03000 515 305
Email:
For more general enquiries please refer to the HMRC website:
or contact the Stamp Taxes Helpline on 0845 603 0135.
www.hmrc.gov.uk
9.2 Publication Calendar
Publications will be released on the 21st of each month, but are delayed by one day whenever the
21st or the day preceding the 21st is a non-working day (e.g. publications are never published on a
Monday, Saturday or Sunday).
This release, for November 2014, was published on 23 December 2014 at 9:30am. The next release, for
December 2014, will be published on 21 January 2015 at 9:30am.
Historic releases of property publications can be found on the National Archives website:
http://webarchive.nationalarchives.gov.uk/*/http://www.hmrc.gov.uk/stats/survey_of_prop/menu.htm
The full publication calendar can be found on the ‘scheduled updates’ page of the HMRC website:
And is also published on the Publication Hub for UK National Statistics:
http://www.statistics.gov.uk/hub/economy/government-receipts-and-expenditure/taxes-and-revenue
9.3 Revisions Policy for the UK Property Transactions Count publication
Any months with revisions are marked with an 'R' where appropriate and significant revisions will be
explained in the notes sections on pages 2 and 3.
All statistics are provisional for the first two months of publication and revisions are marked when the
previous months figure and finalised figure (at the third month of publication) are changed.
For further information on revisions policy see section 7.2 ‘Introduction to Statistics:
Methodology & Explanation’.
9.4 Reference: National Statistics Publications for Indirect Taxes
Meeting user needs
We are committed to improving the official statistics we publish. We want to encourage and promote
user engagement, so that we can continually improve our statistical outputs.
We would welcome any views you have using the feedback questions below.
https://www.gov.uk/government/organisations/hm-revenue-customs/about/statistics#contact-us
We will undertake to review user comments on a quarterly basis and use this information to influence the
development of our official statistics. We will summarise and publish user comments at regular intervals.
If you have specific questions on the statistics in this publication please contact the team directly.
For further information and questions about tax rules please refer to the HMRC website.
9
Other Information
Users
UK Property Transaction Statistics are used by government and policy makers, analysts,
academics, media, businesses, public bodies and the public.
User feedback has helped shape the development and content of this publication and will continue to
influence future enhancements.
Uses
These statistics are produced primarily to enable monitoring of trends in the UK residential and
non-residential housing markets. Within HM Revenue and Customs and HM Treasury, they are primarily
used by policy makers in the development of housing and tax policy, monitoring of tax receipts, ministerial
briefing and responding to queries from the public. For example, the statistics in this publication were
recently used to highlight the impact on the property market of policies such as the first time buyer relief,
especially in relation to forestalling before the relief came to an end.
Outside of HMRC and HMT, past user engagement has highlighted a variety of examples for how these
statistics are used:
• By market analysts and media to examine and report on the latest movements in the UK property
market and the wider economy;
• Other government departments and policy makers in understanding the impact of past policy changes
and to inform decisions on future policy;
• By academics and analysts to look at longer term trends in the UK property market;
• The statistics are widely used in monitoring the impact of the current economic climate on the
UK property market;
• Businesses tend to use the statistics to understand the property market or plan business strategies;
• The country breakdowns help inform research on market movements at national levels (this is
particularly relevant considering current plans to devolve Stamp Duty Land Tax to the
Scottish Government);
They are best used in conjunction with other monthly housing market indicators, some of which can be found
in the 'Related Statistics' section on page 7.
9
Other Information
Code of Practice for Official Statistics
HMRC complies with the Code of Practice and supporting Principles:
https://www.gov.uk/government/organisations/hm-revenue-customs/about/statistics#cross-cutting-statistics
Pre-Release Access
Policy:
Access List:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/275579/state
https://www.gov.uk/government/statistics/hmrc-statistics-pre-release-access-list
A National Statistics Publication
National Statistics are produced to high professional standards set out in the Code of Practice for
Official Statistics. They undergo regular quality assurance reviews to ensure that they meet
customer needs. They are produced free from any political interference.
The United Kingdom Statistics Authority has designated these statistics as National Statistics, in
accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the
Code of Practice for Official Statistics.
Designation can be broadly interpreted to mean that the statistics:
• meet identified user needs;
• are well explained and readily accessible;
• are produced according to sound methods, and
• are managed impartially and objectively in the public interest.
Once statistics have been designated as National Statistics it is a statutory requirement that the
Code of Practice shall continue to be observed.
For general enquiries about National Statistics, contact the National Statistics Public Enquiry Service on
Tel:
0845 601 3034
overseas: (+44) 1633 653 599
minicom: 01633 812399
E-mail:
info@statistics.gov.uk
01633 652747
Fax:
By post: Customer Contact Centre, Room 1.015, Cardiff Road, Newport, NP10 8XG
You can also find National Statistics on the internet:
www.statistics.gov.uk

PDF: UK Property Transaction Statistics

Transcription

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