Between April 2015 and March 2016, homebuyers in England and Wales paid out £7.3bn in stamp duty. Londoners contributed 46% of this figure, despite recent declines to the number of transactions in high value locations as a result of reforms to the tax system. In one borough alone – Kensington and Chelsea – £514m was paid to the Treasury, which makes up 7% of the total for England and Wales.

For more information on this story, please visit The Telegraph’s property section here.