10638 9th Line, Markham Ontario, L6B 1A8

    Stamp duty receipts have soared since reforms which have helped to paralyse the property market 


    Across the whole of London, revenue increased by just 1pc, but it was boosted by a 9pc jump in revenue from the outskirts of the capital. 

    Stamp duty raised in Kensington and Chelsea was more than that raised in the North East, Yorkshire & Humberside, and Northern Ireland put together, and 36pc of purchases there last year were additional homes, raising the exchequer £233m.

    The mean amount of stamp duty paid on each transaction in the last year has increased by 27pc to £7,900. Nick Leeming, chairman of estate agency Jackson-Stops, said: “Prohibitive levels of stamp duty land tax have been a real drag on the UK property market over the last financial year." 

    He added: “While the changes seen in December 2014 appeared to be good news for 98pc of home buyers at the time, the top end of the market has suffered and this, together with the additional 3pc tax surcharge, has had a knock-on effect on the rest of the market."