The professional body
for the property sector

The Bill may face further amendments before final approval, which must be agreed to by both the Commons and the Lords. This process begins on 8 September, when the legislation could bounce between the two as the fine details are hammered out. For agents working to adapt, it’s a confusing time – so we’ve pulled together a round-up of the reforms, highlighting the areas that are still under discussion.

Plans for the Shaping Sustainable Places programme propose £165 million investment over 10 years to regenerate villages, towns and cities across Northern Ireland, driving long-term growth and prosperity. Propertymark warns that new homes alone cannot support a growing economy and urges ministers to adopt an infrastructure-first approach so that new developments are supported by schools, healthcare, transport and community facilities. Without this, homes risk standing empty.

As the property industry waits for the publication of the UK Government's Housing Strategy, reports suggest that the Treasury is busy considering a proposal to replace Stamp Duty Land Tax (SDLT) with a new national property tax applied to owner occupied homes sold for more than £500,000. This would place the tax burden on sellers instead of buyers - a seismic shift - although it would not apply to second homes.