"A cut in stamp duty would have signalled government support for brokers, conveyancers and agents. The new Mansion Tax signals the opposite" - Sexton on the Budget

26 November 2025

Richard Sexton, commercial director of proptech surveyor portal Houzecheck, said:

“Rachel Reeves could have done us all a favour by reducing stamp duty rates for first-time buyers and all residential purchases below £500,000. Lowering a transaction tax like this would have decreased upfront costs for buyers and stimulate demand, especially among younger first-time buyers. Evidence from past cuts shows sales volumes increasing within months. She could have introduced a temporary stamp duty holiday for properties under £750,000 for the next 12 months. Historically these boost market activity – just look at the impact this had in 2020 when buyers rushed to complete deals before the due date and sellers list more properties. A cut in stamp duty would have signalled government support for brokers, conveyancers and agents. The new Mansion Tax signals precisely the opposite.

“As a proptech, we’d also like to have seen more focus on AI skills; while we’re one of the largest independently-owned valuation chains in England & Wales, we still need more people with machine learning skills to help speed up delivery of our reports and improve their quality even further.”