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

Industry Calls for Stamp Duty Reform and Landlord Tax Review Under Burnham

Property sector professionals have urged Prime Minister Andy Burnham to go beyond his initial housing pledges and take further action to revitalise the UK property market. Calls include reforming stamp duty, reviewing landlord taxes, and supporting the delivery of new homes.

Ryan Etchells, chief commercial officer at Together, highlighted the need for credible measures to revive the property market, which he described as constrained by affordability pressures and economic uncertainty. Etchells noted that while Burnham’s council housebuilding plan has generated industry interest, analysis from Together suggests there may not be enough public land to deliver such a large-scale programme. The lender also stated that SME housebuilders would require access to finance to support the delivery of council homes.

Nathan Emerson, CEO of Propertymark, pointed to complex challenges in delivering a sustainable mix of affordable housing across regions. Emerson said the sector has an opportunity to engage with the government, emphasising the importance of a diverse housing mix supported by robust local infrastructure.

Stamp Duty and Taxation

Ahead of taking office, Burnham advocated replacing council tax and stamp duty with a land value tax, leading to speculation about potential reforms. Etchells said that changes to stamp duty could encourage downsizing, releasing larger family homes into the market and increasing transaction volumes. He also noted that implementing a land value tax would take years to ensure fairness, but could address issues caused by current stamp duty arrangements.

Nick Leeming, chair of Jackson-Stops, said that while building more homes is essential, the market also needs existing homes to circulate more freely. Leeming referenced research suggesting that removing stamp duty costs could free up more than 300,000 owner-occupied homes across England within a year. He added that reviewing upfront costs could help restore confidence and increase market activity.

Housing Shortage and Rough Sleeping

Valentin Boboc, senior economist at the Institute of Economic Affairs, commented on Burnham’s previous pledge to end rough sleeping, noting that rough sleeping rose for four consecutive years during his tenure as Mayor of Greater Manchester. Boboc said this highlights the seriousness of Britain’s housing shortage and suggested that the Prime Minister should focus on speeding up private housebuilding.