Homebuyers paid £6.6 billion in stamp duty land tax during the first half of the year, matching the total collected over the same period last year.

The figure comes from Coventry Building Society’s analysis of the latest HMRC data and remained unchanged despite more property purchases becoming liable for the tax.

Nil-rate thresholds were reduced on 1 April 2025, with the standard threshold falling from £250,000 to £125,000.

The change increased the stamp duty bill on an average-priced home in England by £2,500. A home mover buying an average-priced property now faces a bill of £4,572.

Buyers paid £1.2 billion in June alone.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “The recent speculation around stamp duty shows just how significant the tax has become in conversations about the housing market.

“A new government brings an opportunity to consider whether the current system is still fit for purpose, but it’s equally important that buyers aren’t left in limbo while speculation continues.

“Whatever the long-term approach, careful consideration is needed given the role stamp duty plays in people’s decisions to move. Any reform should strike the right balance between reducing the upfront costs of buying a home and ensuring ongoing costs of homeownership remain affordable.

“Buyers shouldn’t be left trying to navigate one of life’s biggest financial decisions against a backdrop of uncertainty, so a clear sense of the government’s direction of travel would help people plan ahead and make confident decisions about their next move.”