The latest figures reflect a significant increase in revenue from £216.8m the previous year, indicating a strong recovery in property sales and prices since the end of the pandemic.

There was a total of 68,810 transactions for LTT for the sale of property and land in Wales with higher rate tax take alone hitting £103.9m, representing a quarter of sales to second home owners and buy to let purchasers.

The total number was split between commercial and non-commercial transactions, with £283.7m raised from residential transactions, including £103.9m in additional revenue raised from higher rates, which was up 63% from £70.3m in 2020-21.

Higher rate transactions, as a percentage of all residential transactions, varied between 15% in Monmouthshire and 37% in Gwynedd.

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