Autumn Budget Jitters: What Next for UK Property?

So the Deputy Prime Minister has resigned, the Cabinet has been reshuffled… and a Labour Government has now been in office for over a year, with policies that are having far-ranging consequences for the UK’s property market. With a (delayed) Autumn Budget just around the corner, buyers, sellers and advisors are bracing for further changes that could reshape the landscape once again.
To help make sense of what’s happening — and what might be coming next — we asked our panel of expert buying agents and property advisors for their views. From the impact of government policy to navigating today’s mortgage market, from buying in Prime Central London to the challenges of prime regional property, here’s their assessment of where things stand — and their advice for anyone considering a move.

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Autumn Budget

Policy Shifts, Market Ripples: What Will the Chancellor Do Next?

From Non-Dom reforms to reduced stamp duty relief, Labour’s first year in office has already left its mark on the property market. With the Autumn Budget delayed — and speculation running high on potential taxes — our panel weighs in on what’s happened so far, what should change, and what absolutely must not.

Over the past year, what impact have Labour’s policies had on the property market?

Camilla Dell, Black Brick:

“All of Labour’s policies have been negative for the property market, right across the board, from first time buyers all the way through to overseas buyers of holiday homes. Abolishing the UK Res Non-Dom rules has led to some wealthy residents leaving the UK for more tax friendly countries, and whilst not all UK Res Non-Doms are selling up, negative sentiment surrounding their departures has not been helpful for the UK or instilling buyer confidence. For first-time buyers, the first-time buyer stamp duty exemption dropped from £425,000 to £300,000 in April 2025 significantly raising costs for many buyers. For a first-time buyer purchasing in London, it’s impossible to buy anything below £300,000 so all first-time buyers in London are now facing much higher costs to be able to buy.”

Ashley Wilsdon, Middleton Advisors:

“In the Spring, we saw what could be described as a knee-jerk reaction with a large number of homes being launched to the open market. In turn, prices fell in some areas as buyers sat back and watched a swathe of price reductions.”

Ollie Marshall, Prime Purchase: 

“Whilst not originally a Labour policy, the biggest impact has come from Labour’s version of the Non-Dom changes, the IHT element of which has been the biggest driver for Non-Doms leaving the UK. Such was the exodus, it’s been widely publicised they are now looking into diluting it.”

If you could change just one thing in the Autumn Budget to improve the property market, what would it be?

Ashley Wilsdon, Middleton Advisors: 

“The UK needs overseas investment to remain a global player. How we tax wealthy international individuals needs a rethink.”

Camilla Dell, Black Brick: 

“Abolish stamp duty and reform council tax.”

Ollie Marshall, Prime Purchase: 

“The date!  The delay will create a two month hiatus of uncertainty…In any event, the Chancellor should banish the prospect of mansion taxes and CGT on primary residences to obscurity.  Such rhetoric continues to damage sentiment in a very delicate market still reeling from higher inflation and rates. ”

What is your biggest concern as we approach the Autumn Budget?

Camilla Dell, Black Brick:

“In the run up to Autumn statement we now have so much “kite flying” from the Labour Government that buyers and sellers don’t know what to do, or how to plan. Uncertainty causes people to stall their decisions, and we now must wait until the 26th November to see what Rachel Reeves will decide to do. There have been so many ideas floated from CGT on primary homes, to a mansion tax, to reforming council tax to charging Landlords NI on rental income…. None of these changes would be positive for buyers or sellers or help what is already an ailing market.”

London

London Buyers: Opportunity in a Market of Contrasts

London remains a market of contrasts: some of the best buying opportunities in decades, but also pitfalls for the unrepresented. Our expert advisors share practical advice for navigating costs, timing and the quest for quality.

What advice would you offer to home buyers in London right now — and what mistakes should they avoid?

Jonny Dyson, Obbard:  

“Try not to hold out for the ‘perfect moment’. Quality period properties in great locations and with all the right features (high ceilings, lateral, lifts, needing no work etc) are still rare, and command a good price – they’re not building Victorian houses anymore. If you see a property that ticks 90% of your boxes, that’s probably as good a buy as you are going to get – in any market.

Don’t underestimate purchase costs, especially the intricacies of stamp duty (as Angela Rayner can no doubt attest). If your tax affairs are complex or if you have interests in other properties, do ensure that you get advice from a relevant tax specialist.”

Camilla Dell, Black Brick:  

“London is currently offering some of the best buying opportunities I have seen in my 20 plus career working in property. However, accessing those opportunities and understanding what price to pay in such a tricky market is almost impossible for an unrepresented buyer. Whilst working with a buying agent adds to the cost of buying, the benefit, particularly in such uncertain times, is worth far more.”

Prime Regional Property Markets

Buyers Hold the Cards

From the Cotswolds to coastal hotspots, shifting sentiment has handed more power to buyers. But while today’s market favours negotiation, our experts stress the importance of focus, pragmatism and recognising true long-term value.

What are your top tips for buyers in the prime regional markets today?

Ben Horne, Middleton Advisors:  

  1. Find a property quickly and negotiate hard; it’s a great time to buy. It’s been a few years since buyers have had such a strong hand.

  2. Even if buying something well out of sight of the open market, the buyer has the advantage of using the media speculation about forthcoming taxation.

Charlie Wells, Prime Purchase:  

  1. My advice for Clients and ‘would be’ Buyers is to avoid being distracted by macro markets and concentrate on their own needs and financial position. There are lots of opportunities out there to buy “best in class“ property that has been caught up in the dirty water of an uncertain market place. Concentrate on the qualities of the properties, on a case by case scenario, with a view to the medium to long-term. Fortune will often favour the brave but not the reckless!

  2. Properties with unresolvable issues, that will always affect value or your enjoyment, should be avoided.

  3. Try and be practical in your assessment of a property, and avoid emotion and having your hand forced if you are not comfortable.

First Time Buyers

Climbing the Ladder: Bargains for the Brave

First-time buyers face rising costs and policy uncertainty — but with landlords retreating from the market, opportunities exist for those willing to do the homework, negotiate hard and walk away if the numbers don’t stack up.

How is the environment for First Time Buyers today and what should they be aware of?

Nicholas Ayre, Home Fusion:  

“The uncertainty over what the November budget may bring has resulted in hesitancy on the part of some first time buyers to commit to a purchase. Competition from PRS landlords has pretty much disappeared, so for those who are unperturbed by what the future may hold, there are definite opportunities to secure a bargain in what is a buyers market.

In a soft and possibly falling market, the secret to success  is to recognise true value by doing your research, bargain hard and be prepared to walk away if the numbers don’t add up.”

Mortgages

Financing the Dream: Act Decisively, Plan Long Term

With rates shifting and tax rumours swirling, mortgage strategy is critical. Our panel stresses the need to move quickly, lock in value where possible, and structure finance to withstand both short-term volatility and long-term change — especially for international buyers.

What is your advice for home buyers looking to secure a mortgage now and what do international buyers purchasing in the UK need to consider?

Geoff Garrett, Henry Dannell (Mortgage Advisors):

“Don’t delay. Many buyers miss out by trying to time the market. Rates may be trending down, but locking in a strong deal now protects you if they rise again, while still allowing you to switch if conditions improve. A seasoned whole-of-market broker can review every lender, structure finance to maximise borrowing, and position you to make the right move today rather than needing to move again in 2–5 years. Done well, this can save thousands in future stamp duty, tax, and lost appreciation. This could be especially key with the rumours regarding changing stamp duty rules.”

As International buyers typically experience tighter underwriting, higher deposit demands, and elevated mortgage rates compared with a UK buyer, it’s wise to secure terms quickly, hold backup options, and let your broker re-price or switch if markets move. This joined-up approach turns today’s complexity ranging from tax changes to rate volatility into leverage, aligning your financing with both immediate needs and long-term goals.”

Conveyancing - Prime Property

Budget Day Looms Large for Prime Deals

Legal processes in prime property are being shaped as much by politics as by paperwork. Advisors warn that speculation around SDLT and CGT could either stall transactions or drive a last-minute rush — with some deals even pushing to exchange before Budget Day.

What challenges are you seeing in the conveyancing process for prime property purchasers, and how can buyers best prepare for them?

Laura Conduit, Farrer & Co (Law Firm):

“Its been a tricky/sticky few months in the London market following the non dom tax changes, and the country market has had a quieter year as well.  But I’m seeing pockets of activity in prime central London, as well as Hampstead and South West London in particular.  The challenge now for the market and the conveyancing process is the speculation around the Autumn budget and any changes to SDLT or CGT, as this has the potential to stall transactions – or speed them up, depending on what people think will happen – and how they view those changes.  We are gearing up for some potential pre midnight exchanges on 26 November, as has been the case on past budget days! ”

Looking Ahead

Despite the current atmosphere of policy speculation and Budget-related delays, one thing is clear: opportunity lies with the decisive. Across London, regional markets, and for first-time buyers, success will come to those who stay focused on long-term value and act strategically. With the Autumn Budget now looming large, the market waits—but those ready to move may find the most compelling prospects.