The number of property transactions in the year to 31 July 2017 (1,204,730) was broadly the same as the year to 31 July 2015 (1,205,700), but stamp duty land tax receipts increased by 20%, equivalent to an extra £2bn, according to HMRC’s latest statistics.

Robert Pullen, director at Blick Rothenberg, said: ‘Some of this increase could relate to general property price increases, but it is likely that most …