Rightmove Calls for Urgent Stamp Duty Reform to Support First-Time Buyers and Boost UK Housing Market
Rightmove, the UK’s largest property portal, has issued a renewed call for stamp duty reform, urging the government to review outdated stamp duty thresholds to reflect rising house prices and better support first-time buyers.
In a statement released alongside its H1 2025 financial results, Rightmove warned that the reversion to higher stamp duty rates in April has contributed to a sustained slowdown in housing transactions. The company is calling on policymakers to take immediate action to revise stamp duty thresholds, which it says are no longer aligned with today’s UK property market conditions.
“Stamp duty can be a major barrier to home ownership and market movement,” said Johan Svanstrom, Chief Executive of Rightmove. “We want to see meaningful changes that improve housing affordability, support first-time buyers, and increase mobility across all segments of the market.”
Stamp Duty Burden Increasing for First-Time Buyers
Rightmove data shows that as recently as 2017, over 50% of properties in England were exempt from stamp duty for first-time buyers. Today, that figure has fallen to just 40%, reflecting the upward trajectory of UK house prices and highlighting what Rightmove describes as a “clear need for a policy overhaul”.
The portal argues that without action, stamp duty costs will continue to suppress demand, particularly among younger buyers and downsizers, creating additional strain on a market already grappling with affordability challenges and reduced liquidity.
Government Revenue Rises Amid Market Stagnation
Following the expiry of the stamp duty holiday in April, Treasury revenues from property taxes are expected to reach record highs this year. The temporary thresholds—introduced in 2020 by then-Chancellor Rishi Sunak and later extended under Liz Truss—were designed to keep the market moving during the pandemic.
The current administration, under Chancellor Rachel Reeves, has opted not to extend the relief measures, despite industry concerns about the impact on property transactions and economic growth.
Leading economists and policy analysts, including Paul Johnson of the Institute for Fiscal Studies and Dan Neidle of Tax Policy Associates, have repeatedly warned that stamp duty is one of the most economically damaging taxes in the UK. Neidle has labelled it a “terrible tax” that deters downsizing, restricts housing market fluidity, and imposes an undue burden on first-time buyers.
Call to Action
“We strongly encourage the government to review and modernise stamp duty thresholds in line with current property price trends,” added Svanstrom. “Doing so would not only benefit those entering the market for the first time, but also free up housing stock and enhance market mobility across the board.”
Treasury Response
A Treasury spokesperson responded by highlighting ongoing efforts to boost housing supply and ownership:
“We are taking decisive action to deliver 1.5 million homes, including a £2bn boost to the Affordable Homes Programme, a permanent mortgage guarantee scheme, and planning reforms expected to unlock 170,000 homes by 2030.
Measures introduced at the Budget will also generate an additional 130,000 transactions over five years, primarily benefiting first-time buyers and those purchasing primary residences.”
