According to a Rightmove survey, nearly twenty percent of potential homebuyers have postponed their plans due to speculation about property tax reforms in the upcoming Budget. The study, which involved over 10,000 people, indicated widespread apprehension regarding possible adjustments to stamp duty, council tax, and the potential introduction of a new tax on high-value properties.
The uncertainty appears to be affecting market confidence, with a significant majority of those aware of the rumors expressing concern about the housing market's stability. This anxiety is reportedly most pronounced among older demographics and in specific regions like the South East and South West, where property values are generally higher. A Rightmove property expert stated that many prospective movers are choosing to wait for the government's official announcement before proceeding.
This hesitation coincides with a reported slowdown in national house price growth. Separate data confirmed that price increases have decelerated, with London experiencing a notable decline. Meanwhile, although rental cost increases are moderating, average rents remain significantly higher than the previous year.
The uncertainty appears to be affecting market confidence, with a significant majority of those aware of the rumors expressing concern about the housing market's stability. This anxiety is reportedly most pronounced among older demographics and in specific regions like the South East and South West, where property values are generally higher. A Rightmove property expert stated that many prospective movers are choosing to wait for the government's official announcement before proceeding.
This hesitation coincides with a reported slowdown in national house price growth. Separate data confirmed that price increases have decelerated, with London experiencing a notable decline. Meanwhile, although rental cost increases are moderating, average rents remain significantly higher than the previous year.
