The Autumn Budget statement, delivered on 26th November, has provided the much-needed clarity the property market required, making no significant direct changes to impact home buyers and sellers. Following weeks of speculation and caution, YouConvey’s message is clear: the handbrake can now be lifted, and the market can move forward.
Recent weeks saw a noticeable slowing in market activity as buyers and sellers adopted a “wait-and-see” approach. With the uncertainty removed, we now anticipate a small but welcome surge of pre-Christmas activity as pent-up demand is released.
Core Policies Provide Reassurance
Crucially, Stamp Duty remained untouched, meaning people planning a move are unaffected, and it is firmly business as usual for the vast majority of transactions. Furthermore, the initial financial market reaction to the Budget was muted, with long-term gilt rates—which ultimately impact mortgage rates—seeing a downward trend. YouConvey therefore does not expect any adverse change to the Bank of England base rate or mortgage rates, reinforcing market stability.
While a new “wealth tax” on properties above £2 million will impact some at the very upper end, it affects only a very small percentage of the UK housing stock and will not disrupt the wider market.
Opportunity in the Landlord Sector
Increased taxation plans may prompt more small portfolio landlords to exit the market, creating valuable opportunities for agents to secure new listings and sales. Given that many of these properties will be leasehold, getting YouConvey involved at the outset can help agents prepare the necessary leasehold information immediately, ensuring that transactions move to a fast and successful completion once a buyer is found.
The YouConvey Viewpoint
The underlying message from YouConvey is one of confidence. There is a significant opportunity for agents and brokers to engage with those motivated clients who have been waiting and encourage them to press ahead with their plans.
At YouConvey we’re strategically positioned to help you secure listings, set up sales efficiently, and manage the transaction through to the fastest possible completion.
Get in touch to find out how we can work together, or book a calendly appointment with Eddie.
