Stamp Duty take rockets
House purchasers spent an additional £1bn on Stamp Duty in the second quarter of 2006, despite the starting threshold for the tax being increased in March.
A combination of higher house prices and increased numbers of transactions resulted in the increase, according to research from Portman Building Society.
The average homebuyer paid £3,735 in Stamp duty, while in London the average was over £7,700.
The total Stamp Duty take by the Treasury has rocketed over the last five years, from £1.8bn to £5.5bn per year.