Most estate agents in England appear to be strongly in favour of property tax reform, with much of the discussion centred on the possibility of scrapping Stamp Duty. Reports suggest that Chancellor Rachel Reeves is considering an overhaul of the current system, which could include removing Stamp Duty Land Tax (SDLT) altogether.
Instead of buyers paying SDLT upfront, the government may introduce a new levy that would be charged to sellers of homes priced above £500,000. This idea has sparked a wave of debate across the property industry, particularly as many argue that the current system makes it harder for people to move home.
A survey carried out by GetAgent revealed that the majority of agents would welcome such a move. According to their findings, 66% of estate agents either strongly or somewhat support shifting away from the present SDLT framework. Only a small share of respondents, around 13%, said they were against the idea.
Even among supporters, opinions differ over the best approach. Roughly 44% of agents said that if a seller-side levy is introduced, it should only apply to higher-value homes. On the other hand, nearly four out of five respondents (79%) argued that SDLT should simply be abolished entirely without being replaced by a new tax.
Agents overwhelmingly believe that removing the upfront cost of Stamp Duty would open up the market to more buyers. The survey showed that 92% of respondents think such a change would encourage people to purchase property. Nearly half of them – 47% – felt the impact would be significant, potentially boosting transaction numbers in the short term.
The design of any new system remains a key point of debate. The proposed threshold for the seller levy is set at £500,000. While almost half of agents (49%) said this figure was reasonable, a large proportion (44%) argued that it should be increased to avoid penalising those selling mid-range properties.
Calls for more radical reform were also common among agents. In fact, 79% of those surveyed said they wanted SDLT to be scrapped completely with no replacement at all. By contrast, just 15% favoured a new form of property tax, and only 10% supported keeping SDLT in its current form.
However, estate agents also expressed concern about how a seller levy might play out in practice. An overwhelming 96% predicted that if sellers were forced to pay the tax, they would likely raise their asking prices to cover the additional cost. This could reduce some of the benefits expected from the reform.
Despite these concerns, the majority of agents still felt that the reform would be beneficial overall. The survey showed that 71% of agents believe the changes would positively impact the property market. Only 14% thought the reforms could cause harm, suggesting a strong consensus in favour of change.
Colby Short, co-founder and chief executive of GetAgent, explained that Stamp Duty has long been seen as a barrier to homeownership. He emphasised that removing this cost for buyers would make the property market more accessible and would also generate more sales activity. For agents, this would naturally result in more transactions and therefore more commission opportunities.
At the same time, Short acknowledged concerns about shifting the tax burden from buyers to sellers. He highlighted that one potential solution could be allowing buyers to spread Stamp Duty costs over a number of years after purchasing their property, rather than paying it all upfront. This approach could reduce financial pressure without entirely removing the tax.
The debate reflects a wider demand for fairness and transparency in the housing market. Agents are calling for a tax system that does not stifle activity or discourage potential buyers from entering the market. They want a structure that supports mobility and makes moving home a more straightforward process.
The survey findings suggest that reform is long overdue. Many in the industry feel that Stamp Duty, in its current form, restricts people from moving, downsizing, or stepping onto the property ladder in the first place. Removing it, or significantly reforming it, could unlock fresh momentum in the housing market.
Uncertainty remains around the exact shape of any future reforms, as the Chancellor has not yet announced her plans. However, the strong response from agents shows that the industry is ready for change and keen for a system that encourages, rather than hinders, property transactions.
As the government considers its next steps, the message from estate agents is clear: a fairer and more transparent tax system is essential. Whether this means abolishing SDLT completely, shifting the burden to sellers, or finding a new alternative, most agree that reform would benefit both buyers and the housing market as a whole.
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