Stamp duty may become an issue we see thrust back into the heart of the housing debate, with fresh promises to scrap it raising questions for buyers, sellers… and, not least, estate agents.
This week, Opposition Leader Kemi Badenoch reaffirmed the Conservative Party's intention to abolish stamp duty – and she did so whilst visiting an estate agent.
That particular setting wasn't accidental.
Standing alongside Jeremy Hunt, a former Chancellor of the Exchequer, as well as the Shadow Secretary of State for Business and Trade, Andrew Griffith, the Conservative leader once again positioned stamp duty reform as a central plank of her party's housing strategy, revisiting the surprise conference pledge that drew a standing ovation last October.
And she chose to do so during a PR visit to the new Godalming branch of Cavender Estate Agents in Surrey.
Of course, there are certainly party politics going on here – but beyond that, these particular optics matter. Choosing an estate agency as the backdrop signals something: that this is not abstract theory. It is about transactions, mobility, confidence and movement in the market – something that the industry understands, yes, but also something she wants the industry to pay attention to.
She wants us not only to pay attention to what she is saying, but in particular to the fact that it is her saying it.
Given that stamp duty reform – or indeed, abolition, as posited by Badenoch – is highly favoured by the property industry as a whole, as well as movers in general, announcing it during a visit to an agent was always likely to capture the attention of people like us, who – as this article demonstrates – have something to say about it.
It fans the flames and it amplifies the story.
Clever.
For years, estate agents across the country have argued that stamp duty acts as a brake on the housing market. It is not simply about it being a tax, as prejudicial as that can feel; it is that it acts as a behavioural barrier. When the cost of moving includes tens of thousands of pounds in upfront tax, it causes homeowners to pause – and many choose to stay put altogether. Downsizers hesitate (a particular problem that there are calls to address), families delay upsizing, and chains become generally more fragile.
During the pandemic stamp duty holiday, we saw what happens when that barrier is temporarily lowered: transactions surged, confidence returned, and the market moved more freely.
It is no surprise, then, that abolishing or reforming stamp duty polls well. It is a simple, easy-to-understand lever – and crucially, it feels aspirational, tying into long-standing political narratives about boosting home ownership and social mobility – something that is an ambition for British people on both the right and the left of the political spectrum.
The political outcome of any future election is uncertain (in fact, now more than ever). But in many ways, a more interesting question is whether the direction of travel is already set. Does it matter if the Conservatives do or don’t win power?
Stamp duty reform is one of those rare housing policies that attract broad support – not just from estate agents, but from buyers, sellers, and, increasingly, across the political spectrum.
It speaks to homeownership, mobility, and fairness. If a policy proves popular enough – and economically defensible – it often transcends party lines. It may be reshaped, reimagined somehow, or phased in rather than delivered as a single sweeping reform, but once an idea gains momentum, it rarely disappears entirely.
And this idea is a noisy one.
In that sense, this week’s estate agency visit-cum-announcement could signal something more significant than just a campaign photo opportunity. It reflects a growing recognition that transaction taxes are under scrutiny.
It also suggests that their own polling on the general reaction to the proposal after she first voiced it in October must have been favourable. If not, why risk rolling it out again now, at a time when, in many ways, her prime opposition is somewhat on the ropes?
To answer the question posed in the heading of this section, the reality is that it doesn’t necessarily matter if the Conservatives do succeed at their next pass or not. If the public is on board, future governments of any political bent may be under pressure to address the issue.
And the public is on board. A YouGov poll in October found 63% support for scrapping the tax, with only 13% opposed to doing so (24% were ‘don’t know’). That’s a huge margin – and one that it seems clear Badenoch is keen to leverage. You can see the results of that poll here.
For now, of course, nothing changes at all. Stamp duty remains in place, transactions continue under the current structure, and buyers and sellers still need to factor this tax into their calculations. We aren’t due another General Election until 2029 – although there is a chance one may be called sooner.
Nevertheless, political signalling matters. It shapes expectations and influences confidence. If reform – in whatever form – becomes increasingly likely, that alone could affect decision-making over the coming months and years. If it becomes noisy enough, it may even be something addressed in a fiscal event or Budget before the next election.
Here at Petermans, the party politics themselves do not interest us per se – but the effect of issues such as this on property markets of course do very much matter, to us, to our clients and to people moving here in Edgware, particularly when the 12-month average property value here, as of February 2026, is approximately £575,000 according to Rightmove.
The average stamp duty for a straightforward residential purchase at this level is £18,750, including for first-time buyers.
This is why we are particularly interested – because it is about what policy means for people locally: for families considering a move, for landlords assessing their next steps, and for homeowners weighing the timing.
The housing market rarely stands still for long, and when politicians start talking seriously about removing one of its biggest friction points – whilst standing inside an estate agency branch, no less – we will obviously be watching what happens next and deciphering what it means for anyone considering their next move.
If you are thinking about buying, selling or investing in a property in Edgware, we can help you understand how current stamp duty rules – and potential future reforms – might affect your plans, and what makes most sense for you to do in today’s market.
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