Homebuyers have paid £5.5bn in stamp obligation in 2025 to date, up 25% from £4.4bn in comparison with the corresponding interval final 12 months, contemporary evaluation of HMRC statistics present.
In Could, consumers paid £918m, down from £1.3bn in April.
The drop adopted the nil-rate threshold being lower from £250,000 to £125,000 on 1st April.
The tax on an average-priced house reached £3,274, in comparison with £774 earlier than the brink was halved.
Jonathan Stinton, head of middleman relationships at Coventry Constructing Society, which carried out the examine, stated: “Homebuyers are handing over eye-watering sums in stamp obligation.
“The invoice for a median priced house has greater than quadrupled, and that’s on high of every little thing else consumers are attempting to cowl.
“When shifting comes with hundreds in tax, it could possibly put individuals off making that subsequent step – whether or not it’s upsizing, downsizing, or simply discovering a house that higher fits their life.”
Stinton added: “That form of pressure doesn’t simply have an effect on particular person consumers, it could possibly sluggish the market down for everybody.
“When stamp obligation was first launched – again in 1694 – it was solely meant to final 4 years.
“Greater than 300 years later we’re nonetheless paying it in a single kind or one other, regardless of the actual fact the housing market has modified.
“It’s exhausting to see how a tax designed for a distinct period remains to be one of the best match for right this moment’s consumers.”
