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Publication - Research and analysis

Scottish Housing Market Review Q4 2024

Published
17 January 2025
From
Minister for Housing, +1 more … Cabinet Secretary for Social Justice
Directorate
Tackling Child Poverty and Social Justice Directorate
Topic
Housing
ISBN
9781836912361

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) increased annually by 11.7% in 2022-23 and then fell by 9.3% in 2023-24. So far in 2024-25, sales and house prices have been rising which has driven up residential LBTT revenue. Provisional estimates indicate that the total revenue payable from April to December was £393 million, 15% higher than the corresponding period in 2023-24, and 1.8% higher than 2022/23.

The Scottish Budget on 4 December 2024 increased the ADS rate from 6% to 8% with effect from the following day. The Scottish Fiscal Commission (SFC) forecasts that this increase will raise a total of £32m in additional revenue (net of any lost residential LBTT revenue) in 2025-26.

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

Source: Revenue Scotland

Contact

Email: jake.forsyth@gov.scot

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