Stamp tax receipts for 2024-25 are expected to jump 17 per cent to £15 billion in 2024-25, based on rising housing construction and tax changes. Latest forecasts from the Office of Budget Responsibility.
Public financial regulators estimate government housing drives will provide By 2029/30 to 2029/30, a 30% increase in homes after 13 years of construction in 2025-26.
It says S’s riseTAMP tax and other property transaction receipts “reflect the recovery rate in the housing market, as well as the expected increase in activity before the NIL-RATE stamp rate fell in April 2025.”
The agency added that stamp duty revenue is expected to rise steadily, with receipts reaching £26.5 billion in 2029-30.
On April 1, the stamp duty threshold will be reduced from £250,000 for home moves to £125,000, while the first-time home buyers’ £425,000 will be reduced from £425,000 to £300,000.
RightMove property expert Colleen Babcock said: “It is disappointing that the government has not used the Spring statement as an opportunity to extend the upcoming stamp duty deadline.
“We estimate that over 70,000 buyers will miss the deadline and complete it in April, one-third of which is FTB.”
