Homebuyers paid £13.7bn in Stamp Duty between January and November, according to new analysis from Coventry Building Society.

The figure represents a 19% increase on the £11.5bn paid over the same period last year, based on the latest HMRC statistics.

In November alone, homebuyers paid £1.4bn in Stamp Duty, down from £1.5bn in October. Coventry said this fall came amid growing uncertainty among buyers and sellers over potential changes to Stamp Duty, following months of speculation ahead of the Autumn Budget.

Stamp Duty was ultimately left unchanged in the Budget.

Looking ahead, the Office for Budget Responsibility’s Economic and Fiscal Outlook forecasts that tax receipts from buying residential property in England and Northern Ireland will rise sharply, reaching £19.7bn by 2030–31.

Jonathan Stinton, head of mortgage relations at Coventry Building Society, said: “Stamp Duty has long been the hidden sting in the tail of buying a home. The months of speculation ahead of the Autumn Budget added a lot of uncertainty, with buyers and sellers unsure if they should press ahead or wait for potential changes that never came.

“With no reforms announced, Stamp Duty now feels increasingly outdated and out of step with today’s housing market.

“We’re using thresholds which were introduced in 2014, but house prices have risen significantly since then.

“That disconnect means more buyers are being pulled into higher tax bands simply because the market has moved on.

“When people are dragged into paying more tax by default rather than design, it’s clear the system isn’t up to date. At the very least there’s a growing case for the system to be revisited so it better reflects modern house prices.

“Without it, homebuyers will continue to be crippled by a tax which doesn’t make sense for today’s market.”