Rightmove has reported an 11% rise in new property listings year-on-year, as sellers rush ahead of the new stamp duty April deadline. The average asking price rose by 1.7% (£5,992) in January to £366,189, marking the largest early-year increase since 2020. The prospect of upcoming stamp duty changes from April 2025 has accelerated market activity, revealing a rise in average asking prices. 

David Hannah, Group Chairman of Cornerstone Tax, a leading stamp duty advisory firm, states that these figures underscore the need for the government to address broader housing affordability issues. 

The changes pose significant challenges particularly for property buyers in higher-priced UK regions, which could reduce demand in these areas. While the overall market has shown resilience, its future stability will largely depend on how these tax adjustments and broader economic factors, such as borrowing costs and interest rates, play out in the months ahead. 

David Hannah also says that the UK government has missed key opportunities to address housing affordability. These include raising the second home surcharge to 5%, failing to reinstate Multiple Dwellings Relief, and planning to reduce Stamp Duty thresholds in April. 26% of Brits are unable to purchase property due to unaffordable Stamp Duty costs. Cornerstone also say that 15% of private landlords are now considering selling due to rising expenses, and 18% of prospective buy-to-let landlords have been dissuaded to invest due to increasingly complex regulations.