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.

Report: Scrapping Stamp Duty Could Release 300,000+ Homes in England

More than 300,000 homes in England could be brought to market within a year if stamp duty costs were removed, according to a report by estate agency group Jackson-Stops. The Jackson-Stops Housing Mobility Report found that 28% of owner-occupiers whose moving plans had been delayed cited stamp duty as the main barrier.

The report also identified other significant challenges for would-be movers, including economic uncertainty (42% of respondents) and mortgage rates (29%). Jackson-Stops stated that, if applied to the wider market, removing stamp duty could bring over 300,000 homes to market in less than a year, potentially rising to more than 750,000 homes within three years.

Transaction Timelines and Market Confidence

The report examined the impact of transaction timelines on housing activity, referencing government reforms to the home buying and selling process. It found that around 260,000 homes in England could be brought to market within a year if transaction timelines were shortened. The current average timeline is around 120 days from offer acceptance, and approximately a third of transactions fall through, which the firm said costs the economy up to £1.5 billion each year.

Jackson-Stops noted that the government’s aim to reduce transaction times by about four weeks could encourage more people to move. The report highlighted that measures to improve upfront information sharing, strengthen professional standards, and provide greater certainty earlier in the process could help buyers and sellers move with more confidence.

Impact of Transaction Failures

The report also addressed the effect of late-stage transaction failures, such as gazundering and gazumping, on movers’ confidence. Among owner-occupiers whose moving plans had been delayed, postponed, or abandoned in the last five years due to gazundering, around 80% said they would consider moving within three years if this issue was resolved. For those who experienced gazumping, around 60% said they would consider moving in the near future.

The findings suggest that improving certainty and reducing barriers in the moving process could support greater housing mobility, which is relevant for letting agents and inventory clerks monitoring market activity and turnover.