On Wednesday 28 October, Chancellor John Healey will deliver the Autumn Budget — and after months of speculation, the property market finally has a fixed date to plan around. For homeowners, landlords and developers alike, the run-up has felt less like anticipation and more like triage: which rumours are policy in waiting, and which have already been ruled out. This issue sorts the two.
Start with what won't be happening. Downing Street has already ruled out scrapping stamp duty land tax altogether, closing off the boldest of the summer's rumours, and separate reporting suggests no immediate changes are planned to council tax either. For buyers who had been delaying a purchase in the hope of a stamp duty holiday, that uncertainty has at least been resolved — the tax stays as it is, for now.
What is still on the table
What remains genuinely live is less comfortable reading for owners of higher-value property. The Times reports the Treasury is weighing a lower mansion tax threshold — down from £2 million to £1.5 million — pulling an estimated 271,000 homes into scope from April 2028, versus 165,000 originally. Capital gains tax faces similar scrutiny, with proposals to align CGT more closely with income tax and close the "uplift at death" loophole. Neither is confirmed, but both would matter most to landlords and developers weighing when — not just whether — to sell.
Neither is confirmed, but both would matter most to landlords and developers weighing when — not just whether — to sell.
Good news for first-time buyers
There's a firmer story for first-time buyers. The government has confirmed a new "Your First Home" scheme: a 20% government equity loan on new-build homes, paired with a deposit as low as 2.5%, aimed at buyers with no family help behind them. Pre-registration opens before year end, with full detail — pricing caps, eligible regions, how it sits alongside the existing Mortgage Guarantee Scheme — due on Budget day itself.
Our advice, as ever: plan for the mortgage decision you can already see coming, not the one you're hoping the Budget will make for you.
At a glance
- 28 Oct: Autumn Budget delivered by Chancellor John Healey
- Ruled out: Stamp duty abolition and a council tax overhaul, per No.10
- Apr 2028: Mansion tax threshold may fall from £2m to £1.5m
- Late 2026: "Your First Home" 2.5%-deposit scheme opens pre-registration
To talk through what this means for you, contact us or call 0203 971 1234.
Important: This guide is general information, not personal advice. Rules, rates and lender criteria change; speak to an adviser about your circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage.