Homebuyers paid £6.6bn in Stamp Duty Land Tax in the first half of the year, according to Coventry Building Society’s analysis of the latest HMRC statistics.
The same amount (£6.6bn) was paid during the same period last year, despite more property purchases being eligible to pay tax, following changes to the nil-rate thresholds introduced on 1 April 2025.
The nil-rate thresholds fell from £250,000 back to £125,000 last April, meaning the tax bill on an average priced home in England increased by £2,500 overnight.
Stamp Duty for a home mover buying an average priced home in England is now, £4,572.
In June alone buyers paid £1.2bn.
Jonathan Stinton, Head of Intermediary Relationships at Coventry Building Society, said: “The recent speculation around Stamp Duty shows just how significant the tax has become in conversations about the housing market. A new government brings an opportunity to consider whether the current system is still fit for purpose, but it’s equally important that buyers aren’t left in limbo while speculation continues.
“Whatever the long-term approach, careful consideration is needed given the role Stamp Duty plays in people’s decisions to move. Any reform should strike the right balance between reducing the upfront costs of buying a home and ensuring ongoing costs of homeownership remain affordable.
"Buyers shouldn’t be left trying to navigate one of life’s biggest financial decisions against a backdrop of uncertainty, so a clear sense of the government’s direction of travel would help people plan ahead and make confident decisions about their next move.”
