Stamp duty holiday 2027?

[Blueysmum2026]

Market is very sluggish here in the South East. What do we think our chances are of another stamp duty holiday in 2027?

But that isn’t the binary option for everyone & for some renting for a bit longer may be preferable.

I don’t know where you are but I am in London, traditionally many people would buy on the outskirts/borders because that was affordable but prices have softened in places so some now can afford to be in London particularly when you factor in commuting costs. The price softening doesn’t seem to have happened yet in the commuter outskirts & they look overpriced. I expect it still needs to ripple out fully.

I wouldn’t buy a house now as a FTB

Stamp duty should be abolished imo. Why should there be a tax on moving house?

There is shortage of properties for FTB because people don’t move up the chain and free up the smaller properties. Equally, you have older people in oversized homes who don’t want to downsize due to stamp duty. Ridiculous tax.

I have lots of older relatives who don’t want to downsize and pay stamp duty. Personally I think 20/30k when you have more than a million in equity is not a bad deal.

Hard disagree. Having older people trapped in much needed large family homes due to stamp duty is stupid

Older people are just trapped by stamp duty though, many leave it far too late to move

It’s not the best time to downsize in a falling market. Your house is worth much less. It’s not just the cost of the stamp duty but also the stress of it all when you are elderly.

I think,you might find it more difficult to sell if there was a stamp duty holiday as people would have more money to bypass the flat and buy a house. It’s flats that are having more problems to sell cos of cladding, lease problems/costs.

They are not "much needed", that is just a myth put about by money lenders, most people don"t want these big houses now that everything is expensive, there is masses of housing supply, it just needs to fall in price before people will buy it.

https://www.propertyweek.com/news/fall-in-new-build-sales-rates-leaves-countrys-smallest-housebuilders-struggling

You need a buyer to pay you the "equity", a house isn"t like a bank account! Many people are going to find that the money they thought was "in the house" is a lot less than they thought as borrowing rates return to normal/rise.

They are not trapped in the homes. That's such a dramatic thing to say. They just resent paying/are too greedy for big profits or in some cases the ££ may not add up.
This comment reminds me of the multiple Telegraph articles last year with sad faced older people talking about how they had already reduced their massively over priced home by 10 or 15% but still had no interest for over 18 months and simply couldn't understand why. They were apparently trapped!
Some of these folk may live to regret their decision a as the market for expensive, large homes is falling and is very likely to fall more.

On the wider point, I do agree that SDLT is a very foolish tax. It would be better to have a land tax instead, not a tax on moving.

I don’t disagree but if you paid 50k for your 1m plus house even if the price drops you still have equity.

No I agree. Some much better bargains will be available as prices go down over the next couple of years or so. Plus its worth taking time to build a bigger deposit to off set the higher interest rates that are expected.

What year would you have paid 50k for a house that is "1million" now?

@KeepPumping80s in London

so you should in theory be mortgage free now too

You would have been able to buy property in the 90s for 100k in the likes of Tooting & Hackney.