The body says that the data “is mainly driven by increased transaction levels” between October and December.

These figures, which are primarily made up of stamp duty revenues, cover England and Northern Ireland, but exclude Scotland and Wales.

There were 104,440 residential property transactions in November, up 19% year-on-year on a non-seasonally adjusted basis, HMRC reported earlier this month.

Coventry Building Society calculates homebuyers paid a total of £13bn in stamp duty last year.

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “Homebuyers are paying more and more to the taxman and it’s only going to get worse from April when the thresholds change, and Stamp Duty bills are hiked again.

“The tax bill for moving home, or even buying a first home in some parts of the country, is likely to shoot up by thousands of pounds.”

These numbers come as the property industry prepares for a spike in homebuying in the run-up to April when stamp duty thresholds will be cut.

In April, the current stamp duty threshold of £250,000 will halve to its previous level of £125,000, after Chancellor Rachel Reeves decided not to extend this temporary relief in her October Budget.

For first-time buyers, the stamp duty threshold falls to £300,000 from £425,000, while the maximum purchase price FTBs relief can be claimed on will fall to £500,000 from the current level of £625,000.

The expected busy period will also coincide with industrial action from 4,000 Land Registry staff across 14 offices in England and Wales.

Members of the Public and Commercial Services union began working to rule yesterday (21 January) in a dispute over hours worked from home and other conditions.