As the spring Statement was announced earlier today, Rightmove’s property expert Colleen Babcock highlights why the lack of headline-grabbing announcements so far is actually helping movers feel more confident and certain in their plans. “It was always expected to be lower‑key, and the lack of headline‑grabbing announcements should help give movers more confidence and certainty right now,” she says.
Looking ahead to the Autumn Budget, Babcock says stamp duty remains a key issue. Current bandings haven’t kept pace with house prices, leaving fewer than half of homes in England exempt for first-time buyers, and just one in ten in high-cost areas like London. For many, this unavoidable tax is a significant barrier, particularly for those at the top of the chain, considering downsizing.
With seven or eight months until the government’s next major policy update, Babcock adds: “There’s time for the government to give some serious thought about how the system could be improved. That could mean a more regionalised approach, higher zero‑rate thresholds, spreading payments over a longer period, or even scrapping stamp duty altogether. In its current form, stamp duty remains a major barrier to movement, which isn’t good for would-be buyers and sellers, or for the wider economy.”
