Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

Berkeley warns buyers are delaying purchases ahead of the Budget

Major housebuilder Berkeley has warned that property buyers are holding off until they see what next month's Budget contains. The company said it was receiving "good and stable levels of enquiries", but customers "without an immediate need to move" were more cautious.

"Some buyers may defer transactions until after the Budget at the end of October and any election uncertainty dissipates", the company said, according to The Times. Berkeley has called on the Government to introduce some "targeted intervention" to give the housing market a boost.

Tax speculation

There is speculation that Chancellor John Healey will introduce more punitive rates of Mansion Tax, and is considering aligning Income Tax and Capital Gains Tax, a move that would hit landlords. Propertymark has already warned that the housing market faces a crunch time in the next few weeks, with the Bank of England's interest rate decision this week and the looming Budget.

Key dates ahead

Healey will deliver his first Budget on 28th October, which falls between two Bank Rate announcements, this month and in November. There is also a third opportunity for the Bank to change the interest rate just before Christmas.

Meanwhile, Prime Minister Andy Burnham has been warned by former PM Gordon Brown not to increase property taxes. Brown said that property is "taxed quite heavily" already, and suggested Stamp Duty may need reform.

What this means for agents and clerks

For letting agents and inventory clerks, the reported possibility of Capital Gains Tax changes affecting landlords is the most directly relevant point. If buyers and landlords defer transactions until after the Budget, agents may see a slower period for sales and tenancy turnover in the run-up to 28th October. No specific outcomes are confirmed, and the tax changes remain speculation at this stage.