Budget 2025 Round-Up: What It Means for the Housing Market in Rutland
The long-awaited Autumn Budget was delivered yesterday by the Chancellor, Rachel Reeves. While some expected changes didn’t materialise, several important announcements were made.
Overall, the measures announced do not significantly alter the housing landscape in Rutland. What they do provide is stability and clarity, two vital ingredients for a healthy property market.
This confidence has already been reflected locally, with several homemovers deciding that now is the right time to act, whether upsizing, downsizing, or relocating.
Keep reading for a clear round-up of the key points from the Autumn Budget—and what they mean for the Rutland property market.
No Change to Stamp Duty
Despite speculation, Stamp Duty thresholds remain unchanged.
No Change to Local Housing Allowance (LHA)
The Local Housing Allowance will remain frozen at its current level.
While this won’t affect every renter, it will impact those claiming housing support through Universal Credit. With rents and inflation continuing to rise, the freeze means support will not keep pace with real costs.
Property Income Tax Set to Rise
From April 2027, the basic, higher, and additional rates of property income tax will each increase by two percentage points – rising to 22%, 42%, and 47% respectively.
Holiday Let Visitor Levy
Regional mayors will gain powers to introduce an overnight visitor levy, similar to schemes already planned in Wales (£1.30 per night) and Scotland (5% of the accommodation cost).
A consultation will follow on how the levy should be shaped.
Mansion Tax Introduced
The Government will proceed with a new High Value Council Tax Surcharge for properties valued over £2 million from April 2028. Annual charges will range from £2,500 to £7,500, depending on the value band.
OBR House Price Growth Forecast
The OBR forecasts average house price growth of 2.5% per year from 2026 onwards, broadly matching expected nominal earnings growth.
Here to Help Rutland Move
At Newton Fallowell, we’re here to support your next move. Whether you’re looking to sell, buy, rent, or let, our team of experts are on hand every step of the way. Get in touch today by visiting our Catmos Street, Oakham office or calling directly on 01572 335005.
