Rather, we think that buyers will have to continue to factor the higher rates into their budgets and sellers will have to continue to price realistically to achieve a sale as we go into the autumn market. While some property buyers may be holding out with the anticipation that stamp duty in the UK will be reduced in the autumn budget, Lucian Cook, director of residential research at Savills, said that it's unlikely unless it's part of wider property taxation reform. He said: "The government is going to have to do something about stamp duty. Sales of homes over £1 million remain robust with HMRC receiving a large portion of revenue from these sales.
While some property buyers may be holding out with the anticipation that stamp duty in the UK will be reduced in the autumn budget, Lucian Cook, director of residential research at Savills, said that it's unlikely unless it's part of wider property taxation reform. He said: "The government is going to have to do something about stamp duty. Sales of homes over £1 million remain robust with HMRC receiving a large portion of revenue from these sales.