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SDLT data

ended 01. November 2022

The latest quarterly stamp duty data for residential and commercial property transactions has just been published. Any thoughts, send them across ASAP. Full report >> here <<. Key points below:

Transactions

  • total SDLT transactions in Q3 2022 (July to September) were 10% higher than in Q2 2022, but 8% lower than in Q3 2021. 
  • the rise in transactions in this quarter follows consecutive falls in the previous three quarters. The previous three quarters themselves had followed four quarters of continued growth, which were impacted by the introduction of the SDLT holiday for residential properties and an ongoing strength in the housing market. 
  • residential property transactions in Q3 2022 were 11% higher than in Q2 2022, and 9% lower than in Q3 2021 (three quarters after the SDLT holiday was ended). 
  • non-residential property transactions in Q3 2022 were 3% lower than in Q2 2022, and 1% lower than in Q3 2021. 
     

Receipts

  • total SDLT receipts in Q3 2022 were 11% higher than in Q2 2022. Total SDLT receipts in Q3 2022 were 29% higher than Q3 2021. 
  • receipts have again risen after following a significant fall in the last quarter which had likely been impacted by the lower residential nil rate band of £125,000 which had followed a nil rate band of £250,000 for Q3 2021. The increase in total SDLT receipts matches the increase in total SDLT transactions for this quarter. 
  • residential property receipts in Q3 2022 were 21% higher than Q2 2022, and 46% higher than Q3 2021. 
  • non-residential property receipts in Q3 2022 were 15% lower than in Q2 2022 and were 9% lower than Q3 2021. 

3 responses from the Newspage community

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Editor
Riz Malik
Independent Financial Adviser at R3 Wealth
This data just goes to show that before the 44 days from hell the property market was buoyant and the government was a major beneficiary. With lower transactions likely in Q4 2022 and going into 2023, the government should not rely on stamp duty revenue to fill the fiscal black hole.
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Marcus Wright
Managing Director at Bolton Business Finance
The latest quarterly stamp duty data shows the property market has been holding up well so far in 2022. But the impact of the mini-Budget and rapidly rising mortgage rates is not yet showing in these figures and that will doubtless impact the next set of data. It's almost inevitable that rising mortgage rates will start to erode transaction levels and receipts in the fourth quarter and into 2023. We are already seeing investors and businesses put off making property purchases by higher interest rates. In some cases, rates are double what they were 12 months ago and that will feed into property transactions soon enough.
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Sabrina Hall
Mortgage Adviser & Protection Adviser at Kind Financial Services
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