Conservative leader Kemi Badenoch visited an estate agency in Surrey on Monday to discuss the party’s proposal to abolish stamp duty, accompanied by former chancellor Jeremy Hunt and shadow business secretary Andrew Griffith.
The visit to Cavender Estate Agents in Godalming focused on housing market conditions, transaction barriers and potential impacts of tax reform on property mobility.
Policy background
Badenoch first announced the stamp duty abolition proposal at the Conservative Party conference in October. The policy has been positioned as a measure to increase home ownership and stimulate housing market activity.
At the conference in Manchester, Badenoch stated the move would help “achieve the dream of home ownership for millions” and create “a fairer and more aspirational society”.
Industry consultation
Mark Cavender, director of Cavender Estate Agents, confirmed the visit to EYE, stating: “They wanted my opinion on the housing market, how abolishing stamp duty would boost the market and a brief discussion about the Renters Rights Bill.”
He noted the politicians were “accompanied by a lot of media” during the visit to the firm’s Godalming branch.
Industry position on reform
The property sector has consistently called for stamp duty reform. Prior to November’s Autumn Budget, estate agents and other property professionals urged chancellor Rachel Reeves to address the tax.
Industry representatives argue that stamp duty creates a barrier to property transactions by adding substantial costs to home moves. Colleen Babcock from Rightmove commented: “We’ve been calling for stamp duty reform for some time, as it remains a major barrier for many people looking to move.”
The Conservative proposal represents a continuation of the party’s focus on property taxation policy, though implementation details and costings have not been fully outlined.
