The number of individuals paying the Higher Rate Additional Dwelling (HRAD) Stamp Duty varies widely across England. HRAD applies when a buyer already owns at least one property.
Prime Central London continues to have the highest concentration of HRAD-liable transactions. Kensington and Chelsea recorded the larges share, with about 47 per cent of properties sold in 2024–25 liable to pay higher rates. These properties attract international attention as they’re seen as stable assets during periods of global uncertainty.
More than half of non‑resident buyers were liable for the additional dwelling surcharge, with much of this investment concentrated in the most expensive parts of the market.
The North of England also recorded a high share of transactions paying the surcharge in 2025. With the lowest house prices in England, the region boasts the greatest potential for returns. As a result, investor activity has shifted northwards.
