Fact sheet: 'Replacement of Domestic Items’ relief for landlords

Despite weeks of speculation, the Chancellor’s speech contained no changes to Stamp Duty and, disappointingly, no announcement on LHA rates , which remain frozen. However, Rachel Reeves, MP, has pushed ahead with plans for a ‘mansion tax’ on properties worth over £2 million, an increase in property income tax, and increases to the National Minimum Wage.

HM Treasury must not delay any longer on measures to tackle the growing pressures across the housing market. Without bold action, the supply of homes to rent and buy will continue to fall short of demand. Our message to the Chancellor is clear - stability in the property market depends on policies that make investing, renting, buying and selling homes affordable and sustainable. The Budget on 26 November 2025 is the UK Government’s opportunity to restore confidence and drive growth across the housing sector.

Propertymark has responded to proposals on how future changes to the Welsh Tax Acts should be made, recommending that the Welsh Government should adopt a Land Transaction Tax (LTT) system that promotes accessibility, simplicity, and predictability, while avoiding excessive surcharges or complex rules that could slow transactions.

Propertymark has responded to the Welsh Government’s consultation, which looks at changes to the way holiday lets are assessed for business rates and Council Tax. The consultation considers averaging days let over multiple years, recognising charitable donations, and introducing transitional arrangements for properties moving from non-domestic rates to Council Tax.