Revealed - the millions that Herts home-buyers hand over to the government as they move

The ball proved to be a real moneyspinner for good causes

The ball proved to be a real moneyspinner for good causes - Credit: Archant

The amount of stamp duty paid by home-buyers in Herts has been revealed for the first time

At the end of last year ministers announced changes to stamp duty which means most people now pay less - but as more homes have been bought and sold in the strong housing market the amount collected in Herts was still higher than the year before.

More than £8.5 million has been collected in the last year, up from £7.2 million.

Across the United Kingdom £10.7 billion was collected over the year, a new record and up from £9.27 billion in 2013/4.

Gary Ennis, southern regional managing director of Barratt Homes, said: “While positive changes to stamp duty mean that our customers are saving on average more than £3,000, the increase in the total amount collected by government indicates how strong the housing market is in Hertfordshire.

“Thanks to the reduction of stamp duty costs, together with the Help to Buy scheme, the upfront costs of buying a new home are lower now than they have been for many years.

“This is helping make home ownership a much more affordable reality for many first-time buyers throughout Hertfordshire as well as providing a major boost for those looking to move up the ladder and into a bigger family home.”

Most Read

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter