Propertymark has called on the government to use this week’s Autumn Budget to restore confidence in the housing market, warning that both buyers and renters continue to face significant pressures.
Nathan Emerson (main picture, inset), Chief Executive of the professional body, says the Budget represents a “key opportunity” to stabilise the economy, with housing policy central to future growth.
Speculation around a major overhaul of stamp duty in England and Northern Ireland has intensified in recent weeks but Emerson says any new system must be approached with caution until the full details are clear.
He argues that reform should prioritise flexibility and “geographical fairness”, helping buyers and sellers navigate transactions more easily while encouraging people to move into homes that better meet their needs. Support for first-time buyers, he adds, should remain a central focus of any redesign.
RENTAL STRAIN
Emerson also highlights ongoing strain in the rental market, noting that although rental inflation shows signs of easing, monthly pressures on tenants remain significant.
He says: “For those who rent, although we are starting to see early signs of rental inflation gradually slowing down, there is still immense upward pressure for consumers each month.
“Across the last year, many landlords have seen increased overheads in the form of taxation and compliance demands due to incoming regulation, such as the Renters’ Right Act, and the need to meet future energy efficiency standards, for example.
“Ultimately, it would be encouraging to see the UK Government taking a close look at various burdens on landlords and offering proactive support to encourage long-term investment in high quality housing.”
The Autumn Budget will be delivered on 26 November.
