91探花

Commenting on the , Stacy Eden, partner and head of real estate at 91探花, said: "Residential property transactions between April – September 2024 sat at 547,000, a 10% rise on last year. In September 2024, transactions were 92,000, 10% above last September and in line with August 2024. Whilst the rise in residential property transactions is good news, transactions are 10% below the normal level of 100,000. Unfortunately the Autumn Budget announced an increase in the Stamp Duty Land Tax (SDLT) threshold, reverting back to its September 2022 levels. Government hasn’t recognised the negative impact this could have on housing market liquidity due to increased costs for buyers and reduced market activity, which could also deter investors. 

“Furthermore, the rise in the SDLT surcharge on second homes and buy-to-let properties will reduce the supply in rental homes by pushing landlords to reduce or maintain their rental portfolio – as opposed to building it, driving up rent costs. Not reversing the abolition of Multiple Dwellings Relief on SDLT will continue to have a chilling effect on Build to Rent developments, which is counter intuitive to the government’s ambitious 1.5m housing targets. However, the continued investment in our planning departments and desire to reform our planning requirements will strengthen housing activity.” 

He added: “But, there remains concern that the continued high levels of SDLT, challenges in the private rented sector, and potentially higher than expected interest rates due to the expansionary budget causing further restrictions on transactions and growth in the real estate sector.”