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9

Table 3: Number and percentage of England and Wales properties in each SDLT band, 2016 and 2020

Source: Land Registry, Cebr analysis

The increasing number of homes in higher stamp duty bands means that the cost of moving into a family

home will rise over the next five years, especially in areas where a return to house price growth is

expected in 2016. As an overwhelming majority of homes covered by the proposed mansion tax are in

these areas, the policy would impose another financial burden on those seeking to live in family homes.

Furthermore, due to a ‘fiscal drag’ effect the number of affected homes would increase year to year. The

magnitude of this effect partially depends on how the minimum property value threshold is set for the

mansion tax.

SDLT Rate

No. of homes in 2016 (%)

No. of homes in 2020 (%)

0%

6,670,120 (27.55%)

5,365,461(22.16%)

1%

9,765,214 (40.33%)

9,360,288(38.66%)

3%

5,833,110 (24.09%)

6,693,559(27.64%)

4%

1,530,115 (6.32%)

2,164,715(8.94%)

5%

317,376 (1.31%)

481,772(1.99%)

7%

96,734 (0.4%)

146,874(0.61%)

Total

24,212,669

24,212,669

© Centre for Economics and Business Research