Homebuyers paid £12.3billion in stamp duty between January and October this year, an increase of 21% from the £10.2billion paid over the same period of 2024.
The release of the figures by HM Revenue & Customs (HMRC) comes as attention turns to next week’s Autumn Budget, where speculation is mounting over whether the chancellor will make any changes to the way property is taxed.
In October, homebuyers paid £1.5billion, the highest monthly amount of the year so far.
This comes among growing uncertainty from buyers and sellers about potential changes to stamp duty, with many now weighing up whether to move before or after any reform is announced in the Budget.
Speculation about a major shake-up to property tax was first reported in August, with suggestions that stamp duty could be scrapped in the Budget and replaced with a new property tax for those selling a home worth more than £500,000.
The Autumn Budget is taking place on 26 November.
Coventry Building Society head of intermediary relationships Jonathan Stinton said: “The market is long overdue some clarity. The stamp duty rumours have been swirling for months with buyers and sellers being left in limbo. All eyes are going to be on the Chancellor next Wednesday to see if the speculation amounts to anything.
“For three months buyers and sellers have been left unsure what changes might be coming and if they’ll win or lose. Buyers might save thousands, but sellers might have to pay thousands. It could be a significant shake up, and people are waiting with bated breath to see where they stand.”
