A housing expert has poured cold water on claims that an increase in Stamp Duty receipts is ‘good news’ for the Exchequer.

In the second quarter of this year, there was an increase of 8.2% in Stamp Duty receipts and a 6.8% rise in transactions compared with the first quarter.

But Naomi Heaton, CEO of long-standing investment group London Central Portfolio, said: “This modest bounce-back follows an abysmal first quarter, when receipts fell by over 26% and transactions by 21%.

“To put a further dampener on this ‘good news’, like for like receipts and transactions compared with the same period a year ago, fell by 5.4% and 2.9% respectively.”

LCP’s analysis of data also shows that receipts from the Higher Rate for Additional Dwellings (HRAD) – the 3% surcharge on the purchase of buy-to-lets and second homes – was almost static in the second quarter of this year compared with the same period last year.

However, HRAD transactions were down by 2.7%.

First-time buyers’ relief transactions were almost static over the year, with 52,600 claiming relief.

Over the last 12 months, LCP says Stamp Duty tax take has fallen by 6.3%.

Boris Johnson is said to be looking at scrapping Stamp Duty on properties below £500,000 and reducing the top rate of 12% to 7%.