Land Transaction Tax statistics: January to March 2021

This quarterly report for Land Transaction Tax (LTT) comments on:

• number of transactions, tax due, and value of property taxed
• analysis of residential and non-residential transactions by value
• tax reliefs
• refunds of the higher rate of residential tax
• money received by the Welsh Revenue Authority (WRA)

LTT rate change and impact of coronavirus (COVID-19)

The data in this release should be considered in the context of the coronavirus (COVID-19) pandemic. This had a significant impact on the number of property transactions and tax due during 2020-21. It therefore affects comparisons made between this period and the same period in 2019-20.

The national lockdown imposed on 23 March 2020 resulted in the housing market being mainly closed until it was partially re-opened on 22 June. At that point, house viewings could take place in vacant properties along with house moves where a sale had been agreed but not yet completed. The market was then more fully opened on 27 July to coincide with a change in LTT rates on that date effective until 30 June 2021. Although there were some further local lockdowns imposed during the period reported in this release (end December 2020), these appear to have had only a minor impact on transaction counts and the recovery referred to in the statistical release.

There were further changes to LTT rates effective from 22 December 2020. Please note that some higher rates and non-residential transactions shown in December 2020 will have been charged at pre 22 December rates, and some at the post 22 December rates. We estimate around 100 higher rates and 10 non-residential transactions are at the post 22 December rates.

Further information

Please see the ‘Data’ section below for a spreadsheet with data tables and chart data used in this quarterly report. Also see the StatsWales website for detailed LTT datasets.

We also publish monthly and annual statistics which can be found on the Land Transaction Tax series page.

• Monthly statistics are data-only updates with no commentary. Monthly statistics may have more up-to-date data than quarterly or annual statistics.
   
• Annual statistics present a greater level of detail. This includes analysis by local authority and analysis using the Welsh Index of Multiple Deprivation.