Transactions in Q4 2019 were 314,700 which is similar (less than 1% fall) to the 315,300 transactions shown for Q4 2018.

Almost nine out of 10 (91%) of transactions are on residential property, the other 9% is non-residential, which includes commercial property, agricultural land, forests, any other land or property which is not residential, six or more residential properties bought in a single transaction and mixed use.

First time buyers’ relief

The government introduced first-time buyers’ relief (FTBR) in November 2017 and it applies to purchases under £300k. First-time buyers purchasing property valued at more than £300k but less than £500k are liable to pay 5% stamp duty on the portion over £300k.

There were 62,800 first-time buyers who were exempt from paying some or all stamp duty in Q4 2020, which is 22% of all transactions. Of these, 48,400 were non-liable and paid no stamp duty.

The estimated total amount of FTBR in Q4 2019 was £154 million, the highest quarterly figure since its introduction, with a 7% increase since Q4 2018.

The total number of residential transactions claiming FTBR since it was first introduced over two years ago is 464,700 with an estimated total amount relieved of £1,109 million.