Housing market support won’t work without Stamp Duty reform
Summary
The article argues that a new first-time buyer support scheme will have limited impact unless Stamp Duty is reformed. It says current tax settings are discouraging investors and developers, contributing to weaker market confidence and slowing the delivery of new homes.
Why it matters
Residential property surveyors need to understand how tax policy can influence transaction volumes, new-build demand and developer appetite, all of which affect market activity and valuation conditions. The piece also highlights wider uncertainty around property taxation that may shape buyer behaviour and investment decisions.
Key points
- A new first-time buyer scheme is expected in the Budget, but may not be enough on its own.
- Stamp Duty is described as a deterrent to transactions, especially at higher values.
- The article says tax changes have reduced confidence among investors and developers over time.
- The 5% surcharge on new rental homes is said to be keeping investors out of the market.
- Calls are made for a broader review of property taxation and greater long-term stability.
Organisations:
Menzies LLP, The Negotiator
Regulations:
Stamp Duty Land Tax, Annual Tax on Enveloped Dwellings (ATED), Mansion Tax
Locations:
UK, Britain
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