{"id":11028,"date":"2026-05-13T16:02:27","date_gmt":"2026-05-13T16:02:27","guid":{"rendered":"https:\/\/second-home.uk\/?p=11028"},"modified":"2026-05-13T16:02:27","modified_gmt":"2026-05-13T16:02:27","slug":"conservatives-propose-stamp-duty-abolition-for-primary-homes","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=11028","title":{"rendered":"Conservatives propose stamp duty abolition for primary homes"},"content":{"rendered":"

The Conservative Party is continuing to promote its proposal to abolish stamp duty on primary residential properties, with Shadow Chancellor Sir Mel Stride describing the tax as \u201cthe most economically damaging tax\u201d in a recent podcast appearance.<\/p>\n

Party leader Kemi Badenoch first outlined the policy at the Conservative Party conference in Manchester last October, positioning it as a measure to support home ownership and increase housing market activity. The proposal has since remained a central element of the party\u2019s housing policy platform.<\/p>\n

Market impact and transaction levels<\/h2>\n

Speaking on Winkworth\u2019s Property Exchange podcast, Stride argued that stamp duty is \u201cbunging up the housing market\u201d and acting as a barrier to transactions. He stated: \u201cStamp duty damages aspiration and the economy. And this hits the majority of England. It\u2019s not just a London problem. The social consequences are far-reaching, from first time buyers to elderly people living in houses they can\u2019t afford to run.\u201d<\/p>\n

Winkworth chief executive Dominic Agace cited transaction data showing a significant decline in market activity. According to Agace, there were 72,000 transactions last year compared with 140,000 transactions a few years ago. He described the impact as \u201cdevastating for the level of transactions and affecting all movement in the property market.\u201d<\/p>\n

The figures come as off-plan sales have fallen to their lowest levels<\/a> in over a decade, reflecting broader challenges in the housing market.<\/p>\n

Proposed funding mechanism<\/h2>\n

Stride outlined how the Conservatives would fund the abolition of stamp duty, stating the party would finance it through \u201creductions in the benefits bill, reducing the size of the Civil Service to 2016 levels and cutting overseas aid.\u201d<\/p>\n<\/p>\n

He emphasised that the policy would affect properties across price ranges, noting: \u201cThis wouldn\u2019t be a tax cut for the hugely affluent. It would enable people to move at every level of the market. Most people impacted by stamp duty don\u2019t live in London and most transactions are below \u00a3500,000.\u201d<\/p>\n

The Shadow Chancellor also warned against government policy uncertainty, referencing recent speculation about rental market interventions. \u201cThe damage these rumours wreak is serious and long-term,\u201d he said, as landlords continue to exit the rental sector<\/a> amid regulatory pressures.<\/p>\n

Economic implications<\/h2>\n

Stride argued that property transactions generate wider economic activity, stating: \u201cEvery property transaction drives economic activity \u2013 for plumbers, builders, retailers and all businesses connected with setting up home.\u201d<\/p>\n

Agace described the current situation as constraining market mobility: \u201cWe have young families trapped in flats that are too small and elderly people living in one room. They can\u2019t afford the bills and can\u2019t afford to move because they are terrified of losing the money they need for their pensions.\u201d<\/p>\n

In March, Stride visited Winkworth\u2019s Pimlico office in central London to discuss the policy with industry professionals. The visit was hosted by Agace as part of the Conservatives\u2019 engagement with the property sector.<\/p>\n

The proposal remains part of the opposition party\u2019s policy platform as the housing market continues to face challenges from reduced transaction volumes and affordability pressures.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Conservative Party is continuing to promote its proposal to abolish stamp duty on primary residential properties, with Shadow Chancellor Sir Mel Stride describing the tax as \u201cthe most economically damaging tax\u201d in a recent podcast appearance. Party leader Kemi Badenoch first outlined the policy at the Conservative Party conference in Manchester last October, positioning […]<\/p>\n","protected":false},"author":1,"featured_media":1845,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-11028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\nConservatives propose stamp duty abolition for primary homes - Second Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertywire.com\/news\/uk\/conservatives-propose-stamp-duty-abolition-for-primary-homes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conservatives propose stamp duty abolition for primary homes - Second Home\" \/>\n<meta property=\"og:description\" content=\"The Conservative Party is continuing to promote its proposal to abolish stamp duty on primary residential properties, with Shadow Chancellor Sir Mel Stride describing the tax as \u201cthe most economically damaging tax\u201d in a recent podcast appearance. 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