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Publication - Research and analysis

Scottish Housing Market Review Q3 2024

Published
18 October 2024
From
Minister for Housing, +1 more … Cabinet Secretary for Social Justice
Directorate
Tackling Child Poverty and Social Justice Directorate
Topic
Housing
ISBN
9781836019305

Quarterly bulletin collating a range of previously published statistics on the latest trends in the Scottish housing market.

View supporting documents Supporting documents

3. Residential Land and Buildings Transaction Tax

Residential Land and Buildings Transaction Tax (LBTT) revenue excluding the Additional Dwelling Supplement (ADS) fell sharply in the early months of 2020-21 due to the impact of Covid restrictions on residential transactions. However, since 2021-22 revenues have been above their pre-pandemic levels, with revenue in 2021-22 45% higher and in 2022-23 62% higher than in 2019-20. While revenue fell by 9% annually in 2023-24, it remained 47% above 2019-20 levels. The recent uptick in prices and transactions is feeding into LBTT revenues, with provisional estimates indicating that the total revenue payable from April 2024 to September 2024 was £255 million, 13% higher than the £226 million for the corresponding period a year earlier.

Chart 3.1 Residential LBTT revenue (excluding ADS), £ millions (Monthly data, to September 2024)
Chart 3.1 plots the residential land and building transaction tax (“LBTT”) revenue each year on a monthly basis from April 2022 to September 2024.

Source: Revenue Scotland

Contact

Email: jake.forsyth@gov.scot

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