Property firms should brace themselves for calls about Stamp Duty if Labour wins

Agents should expect a spike in calls after the election is called, as stamp duty thresholds are called into question.

Labour has confirmed that the stamp duty threshold for first-time buyers will fall back to £300,000 in April 2025.

As it stands the minimum threshold is £425,000, as it was temporarily raised by Rishi Sunak when he was Chancellor.

Moneypenny, which provides telephone answering and live chat services to more than 2,500 property businesses across the UK, found there was a 34% increase in inbound calls for property firms after the 2015 election.

Samantha Jones, its director, said: “Politics have a major impact on the property market all year round, but during election season, this is further compounded, and people reach out to experts for answers and support.”

After elections it’s common for buyers and sellers to seek professional advice on the new government’s impact on property transactions and whether they’re likely to face increased fees, delays, or, worse yet, broken chains and retracted offers.