Stamp Duty changes ruled out as housing priorities take shape
Prime Minister Andy Burnham’s first days in office have brought several announcements and appointments with implications for the property sector. Angela Rayner has returned as Housing Secretary, rent controls have been ruled out for England, targeted business rates support has been announced, and Burnham has confirmed that Stamp Duty will not change at the Autumn Budget.
Burnham became Prime Minister on 20 July 2026, promising a new economic model, greater devolution and more council housebuilding. He has also instructed the UK Government to work towards ending rough sleeping and said that a ten-year plan for Britain will follow later in 2026.
Property professionals are now looking for stability and clear policy direction as the new administration develops its housing and economic plans. Propertymark will continue to engage with Burnham, Rayner and the wider ministerial team to press for policies that increase housing supply, support a sustainable private rented sector, strengthen high streets, and make it easier and more affordable for people to move home.
Rayner returns to the housing brief
During her first period as Secretary of State for Housing, Communities and Local Government, Rt Hon Angela Rayner MP oversaw the early stages of major planning reforms and the legislation that became the Renters’ Rights Act. Her return provides some continuity for a department managing significant changes across housebuilding, renting, home buying and selling, leasehold and commonhold.
Florence Eshalomi MP has also joined the Ministry of Housing, Communities and Local Government as a Minister of State. Before her appointment, Eshalomi chaired the Housing, Communities and Local Government Committee.
The Committee has examined housing standards, leasehold reform and the affordability of home ownership. Its work has supported several of Propertymark’s longstanding recommendations, including better upfront property information, earlier commitment within transactions and statutory regulation of estate agents.
Rent controls ruled out for England
One of Rayner’s first significant interventions was to confirm that the UK Government is not currently considering rent controls or a rent freeze in England.
Burnham had previously supported calls for rents to be frozen during the cost-of-living crisis. However, Rayner said that the Renters’ Rights Act, which came into force in May 2026, had since strengthened protection for tenants. She also pointed to Scotland, stating that rent controls there had not necessarily reduced rents.
Propertymark welcomes the decision. We have consistently warned that rent controls can reduce investment, drive landlords from the market and deepen the imbalance between supply and demand.
Evidence from our members following the introduction of temporary rent caps in Scotland showed stalled investment, landlords leaving the sector and larger increases between tenancies. Controls can also reduce spending on maintenance and improvements, limit tenant mobility and increase competition for the homes that remain available.
Improving affordability requires action to expand housing supply and support responsible landlords to remain in the sector. This should include a review of taxation affecting the private rented sector, annual increases to Local Housing Allowance linked to market rents and policies that encourage long-term investment.
The 1.5 million homes target remains challenging
The UK Government is retaining its target to deliver 1.5 million homes during the current Parliament. However, higher construction costs have made it a difficult and stretched target. Burnham’s first Downing Street speech placed particular emphasis on building more council homes. Further detail will be needed on the scale, funding and timetable for this commitment.
Propertymark supports an ambitious, long-term housing strategy, but planning reform cannot deliver the homes the country needs on its own. The government must also address skills shortages, infrastructure, local authority capacity, development finance and the number of consented sites that have not progressed to construction.
Housing policy must respond to local evidence and deliver a balanced mix of homes for sale and rent. This must include social and affordable housing, as well as suitable homes for older and disabled people. Success should be measured by completed homes of the right type and tenure, rather than permissions or investment announcements.
Targeted business rates cut for pubs and venues
Pubs, social clubs, and eligible live music venues in England will receive a 20% cut to their business rates bills from April 2027.
The measure is expected to benefit almost 32,000 premises and save a typical pub around £1,100 during the 2027–28 financial year. It will be added to existing support, including the 15% relief provided for pubs and live music venues in 2026–27.
The reduction may help viable businesses remain in commercial premises, supporting local employment and reducing vacant high street units . However, wider reform is still needed. The UK Government has said it will return to its commitment to review the broader business rates system, including Small Business Rates Relief, at the Budget.
Propertymark has consistently called for a fairer, clearer and more responsive system. Rateable values must reflect changing market conditions, while businesses and their agents need a simpler appeal process and clear information about reliefs and transitional support.
Stamp Duty changes ruled out for the Autumn Budget
Initial reports suggested that Burnham was considering replacing Stamp Duty and Council Tax with an annual levy linked to property or land values. However, the Prime Minister has now confirmed that changes to or the abolition of Stamp Duty will not be included in the next Budget.
This confirmation should reduce the risk of buyers and sellers delaying decisions while waiting for a possible tax change. Prolonged speculation before a Budget can disrupt transactions and undermine confidence, even where no policy is eventually announced.
The decision does not necessarily close the door on longer-term property tax reform. Burnham has previously supported reform, while a petition proposing the replacement of Stamp Duty and Council Tax with a proportional annual property tax is expected to be debated by MPs after receiving more than 100,000 signatures.
Propertymark has long argued that Stamp Duty can discourage people from moving, restrict downsizing and reduce the number of homes coming to market. Lower rates would reduce costs for consumers, while tax bands should be reviewed more regularly to reflect property values. We have also called for permanent exemptions for older homeowners who downsize, helping to release larger homes for families.
Any wider reform of Stamp Duty and Council Tax must prioritise market mobility and fairness. It would require detailed modelling and suitable transitional arrangements, particularly for people who have recently paid Stamp Duty and homeowners who have valuable properties but limited incomes.
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