As the housing market braces for the 2025 Spring Statement, industry leaders are united in their plea for decisive Government action.
The challenges are clear: a sluggish market, rising costs for buyers, and a chronic shortage of housing stock.
Yet, the solutions lie in collaboration, innovation, and a commitment to long-term stability.
Here’s what the sector is calling for:
Stamp Duty reform
One of the most pressing concerns is the impending changes to Stamp Duty Land Tax (SDLT).
From April 2025, the tax-free threshold for standard residential properties will drop from £250,000 to £125,000, while first-time buyers will see their threshold reduced from £425,000 to £300,000.
Matt Harrison, commercial director at finova Broker, warned that this could lead to market volatility, with a surge in transactions followed by a slowdown.
“This pattern disrupts market stability and places undue pressure on buyers and industry professionals alike,” he said.
Nick Hale, CEO of Movera, echoed this sentiment, highlighting the damaging effects of previous stamp duty deadlines.
He noted: “The 2021 deadline saw an unprecedented number of conveyancers leave the sector.
“It’s disappointing that the Government hasn’t stepped in to extend the looming deadline.
“A better approach would be to consult the industry before announcing changes, creating a clearer and healthier property market.”
Leon Diamond, founder and CEO of LiveMore, added that Stamp Duty is a particular barrier for older homeowners looking to downsize.
“A targeted exemption or reduction for this group would not only help them free up equity but also make larger homes available for growing families,” he argued.
Harrison is hoping for long-term policies to promote steady, long-term growth in the housing sector.
He said: “Such measures would alleviate the cyclical peaks and troughs we’ve experienced and provide a more predictable environment for buyers and sellers.”
Supporting first-time buyers and boosting supply
While Stamp Duty reform is crucial, it’s only one piece of the puzzle.
John Phillips, CEO of Just Mortgages and Spicerhaart, emphasised the need for Government-backed support for buyers.
“Increasing housing stock is important, but we must also help people buy these homes,” he said.
“A Help to Buy-style scheme or greater support for Shared Ownership would be hugely beneficial.”
Adam Oldfield, CEO at Phoebus, agreed, calling for concrete incentives to unlock supply.
He noted: “Streamlining planning processes, providing greater funding for SME developers, and revisiting Stamp Duty reforms could all play a role in creating a more fluid and accessible market.”
Modernising the market
Maria Harris, chair of the Open Property Data Association (OPDA), highlighted the need for digitisation.
“A more transparent and efficient system will reduce transaction times, cut costs, and provide greater certainty for buyers, sellers, and industry professionals,” she said.
“We’re calling for dedicated funding to support government departments and local authorities in digitising property data at source.”
This digital transformation, Harris argued, would not only speed up transactions but also lay the foundation for a smarter data ecosystem.
“Embedding digital property packs and a trust framework into the Government’s strategy could unlock economic growth and improve the home buying process,” she added.
A collaborative approach
Underpinning all these calls is a plea for collaboration. “Work with us, not against us,” urged Hale.
This sentiment is shared across the industry, from lenders to developers to intermediaries.
As the Spring Statement approaches, the message is clear: the Government must take a holistic, long-term approach to housing policy.
By addressing Stamp Duty, supporting buyers and developers, and modernising the market, the Chancellor can lay the groundwork for a healthier, more dynamic housing market. The time for action is now.
