Scottish Housing Market Review Q1 2024
Quarterly bulletin collating a range of previously published statistics on the latest trends in the Scottish housing market.
This document is part of a collection
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 the latter half of 2020-21, revenues have generally been significantly above their pre-pandemic levels in 2019-20, boosted not only by the sharp rebound in transactions (see Chart 1.1) as Covid restrictions were lifted but also by significant house-price inflation (see Chart 1.2). As a result, revenue for the 2021-22 fiscal year was 43% higher than in 2019-20, while in 2022-23 revenue was 17% higher than in 2021-22 and 68% higher than 2019-20.
However, the recent decline in transactions has led to revenue for the first eleven months of 2023-24 being 10% less than the corresponding months of 2022-23, although it was still 46% higher than the corresponding months of 2019-20.
Source: Revenue Scotland
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Email: jake.forsyth@gov.scot
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