With the Chancellor’s Budget just days away, industry experts and professionals are urging the government to provide clarity and stability across the housing market. Drawing on more than 20 years of experience in the mortgage sector. Tony Hall, Head of Business Development at Saffron for Intermediaries, outlines below the urgent need for certainty on property tax reform, support for market mobility and the private rented sector, and stronger measures to boost housing delivery through skills and planning improvements.
“Looking ahead to the Chancellor’s Budget next week, there is a clear need for policies that support stability and confidence across the housing market. At Saffron, we see three key areas where action would make a meaningful difference.”
1. Provide certainty on property tax reform
“There is growing speculation around changes to stamp duty, council tax and capital gains tax. Even the possibility of reform can cause buyers and sellers to delay decisions. We urge the Chancellor to set out a clear and long-term plan so that households and investors can move forward with confidence. Stability is essential if we want to avoid a slowdown in transactions.”
2. Support market mobility and protect the private rented sector
“Although a mansion tax would apply only to high-value homes, it could still discourage some owners from moving, which could slow wider market activity. Movement at all levels is important to keep transactions flowing. At the same time, extra tax pressure on landlords could reduce rental supply when demand is already high. The Chancellor needs to strike a balance that supports both mobility and stability.”
3. Strengthen housing delivery through workforce and planning improvements
“House builders continue to face labour shortages along with high material and developer costs. This is made more challenging by planning system inefficiencies that slow the delivery of new homes. Investment in vocational training and incentives for young people to pursue construction careers would help rebuild capacity, while a more consistent planning framework would reduce delays and support the government’s ambitions for increased housing supply.”
