According to Everest, the average amount of money paid in stamp duty on a home sold was £3,770.44 - £83.87 (2.28%) more than the equivalent figure for the earlier 12 month period (£3,686.57).
These figures are the latest available, and were published on 30th September 2010.
However, Everest's analysis reveals a huge difference in the amount of stamp duty paid on a regional basis. For London, the average amount paid last year was £10,263.96, the highest in the country. The next highest was the South East, where the corresponding figure was £5,249.44. The lowest level of stamp duty paid was £1,421.50, which was in Northern Ireland.
There were also significant regional differences in the percentage change in stamp duty paid on residential properties sold between 2009/10 and 2008/09. For example, the amount paid in Northern Ireland fell by a staggering 43% - the highest fall in the UK – in stark contrast to the increase of 5.13% experienced in London.
Overall, homes sold in London last year contributed to around 31.5% of residential stamp duty raised, the highest for any region of the UK.
Duncan Bland, marketing director at Everest, said: “Moving house can be very expensive. In addition to any stamp duty that you have to pay, you also have to consider solicitors’ fees and the cost of moving your belongings, for example. Given this, it can sometimes be much more cost effective to carry out improvements to your home, including making it bigger through, for example, a conservatory.
“In the current economic climate, there will almost certainly be more homeowners who are looking to improve their home as opposed to move and incur such substantial tax bills.”
