What does the Autumn Budget 2026 mean for property?

The Autumn Budget on 28 October 2026 is not expected to change stamp duty, but it could affect the mansion tax, the new Your First Home, and taxes for landlords. Here’s what’s confirmed, what’s rumoured and what the Budget could mean for you. 

This page reflects what has been announced and reported as of 16^th October 2026. We’ll update it on 28th October once the full details have been announced by the Chancellor. 

Author: The Setfords Team | Last udpated: 16th October 2026 | Read time: 12 minutes

Key takeaways 

• Stamp duty is not expected to change, because the Prime Minister has ruled out changing or scrapping it in this Budget.
• The High Value Council Tax Surcharge (commonly called the mansion tax) is already due from April 2028 for homes worth more than £2 million. Reports suggest the threshold could fall to £1.5 million, but this is unconfirmed.
• Your First Home, the new first-time buyer scheme for new builds, will have its price caps, income caps and other rules confirmed at the Budget.
• It’s already been announced that landlords already face higher tax rates on property income from April 2027, and any Capital Gains Tax change is still a rumour.
• You rarely need to rush a purchase or sale because of Budget rumours, and your conveyancer can check any change that affects you.

The short answer 

Chancellor John Healey delivers the Autumn Budget on Wednesday 28 October 2026. For property, Prime Minister Andy Burnham has ruled out changing or scrapping stamp duty this time. 

Instead, the three main areas to watch are potential changes to the mansion tax threshold, the Your First Home scheme that will get its detailed rules, and Capital Gains Tax or holiday let changes that may impact landlords. 

Some changes are already scheduled. The mansion tax starts in April 2028, and higher tax rates on property income start in April 2027. 

Key numbers:

What’s confirmed, rumoured and ruled out? 

With so much speculation, it helps to separate what has been announced from what has only been reported. Here’s where things stand before the Autumn Budget:

What happens on Budget day?

On 28 October, the Chancellor delivers the Budget statement in the House of Commons. The Office for Budget Responsibility publishes its forecast the same day, and the detailed Budget documents appear on gov.uk. We’ll update this page once the property announcements are confirmed.

Should I buy or sell before the Autumn Budget? 

If you’re asking whether now is a good time to buy a house, Budget rumours alone rarely justify rushing a purchase or sale. Here’s why: 

• Stamp duty isn’t expected to change. The Prime Minister has ruled it out for this Budget.
• The biggest property changes are already scheduled. The mansion tax starts in April 2028 and higher property income tax rates in April 2027. Neither depends on whether you complete before or after 28 October.
• New rules often start later. Some changes apply on Budget day, but many begin at a later date. Transitional rules can protect deals already under way.
• Moving takes time. Sales and purchases typically take several weeks, and your chain, lender and the other side set the pace. There is unlikely to be time to buy or sell before the Autumn Budget anyway.

Who should think about timing? 

Landlords and second-home owners who are thinking of selling can wait to see whether a Capital Gains Tax change is announced, and when it would start. Owners of homes worth around £2 million can watch for any change to the mansion tax threshold. In both cases, take tax advice on your own situation before you act. 

What could the Autumn Budget mean for first-time buyers? 

The Budget is due to confirm the full rules for Your First Home, the scheme the Government announced on 26 September 2026. It’s an equity loan for new-build homes in England. 

You’d put down a 2.5% deposit, the Government would lend 20% of the price, and a mortgage covers the rest. Like the old Help to Buy scheme, it only covers new builds from participating developers. 

In terms of stamp duty, it doesn’t look like anything will be announced. However, most first-time buyers in England currently benefit from reduced stamp duty rates. They pay nothing on the first £300,000 of the property’s value and 5% on the portion from £300,001 to £500,000. There is no relief above £500,000, and nothing announced so far changes that. Check the current rates on gov.uk, or read Do first-time buyers pay stamp duty? 

Your First Home: What we’re watching on 28th October

• The price caps and household income cap
• How long the loan stays interest-free, and what you’d pay afterwards
• Whether London buyers get a larger loan, as they did under Help to Buy
• Whether you can use a Lifetime ISA alongside the scheme
• When pre-registration opens and when purchases can complete

Read our full Your First Home FAQs for what we know so far, or our first-time buyer’s guide to conveyancing. 

What could the Autumn Budget mean for home movers and sellers? 

If you’re selling one home and buying another, stamp duty isn’t expected to change. The current rates should continue to apply, and our Stamp Duty FAQs explain how they work. 

Your First Home is for first-time buyers of new builds only, so movers can’t use it. It could bring more competition for starter homes near new developments, so price realistically against them when you sell. 

If you’re moving into a home worth £2 million or more, the mansion tax matters to you too. See the next section. 

What is Stamp Duty Land Tax (SDLT)?

Stamp Duty Land Tax is the tax you pay when you buy a property or land in England above certain price thresholds. It’s usually referred to as simply stamp duty.

What we’re watching on 28 October for sellers

• Any change to stamp duty thresholds or rates, which is not expected
• Start dates and transitional rules for any property tax change
• Any new support for movers or measures that affect chains, though nothing has been suggested yet

What could the Autumn Budget mean for homeowners? 

The main issue is the mansion tax, officially the High Value Council Tax Surcharge (HVCTS). The previous Chancellor announced it at the Autumn Budget on 26 November 2025, so it isn’t new, but it could change. Under the current plans: 

• It applies to homes in England worth more than £2 million, likely based on 2026 values.
• It starts in April 2028 and is paid every year on top of council tax.
• There are four bands, from £2,500 a year (for properties worth £2 million-£2.5 million) to £7,500 a year (for properties worth £5 million+).
• The owner pays it, not the occupier.

Reports suggest the threshold could drop from £2 million to £1.5 million. Commentators say that could roughly double the number of homes affected, and there have been suggestions that this is no longer on the cards. Some property analysts also expect the charges to rise, but none of this is confirmed. 

Council tax itself is also in the frame. It still uses 1991 valuations in England, and the Prime Minister has criticised it. He has said there are no immediate plans to replace council tax and stamp duty, so smaller changes look more likely than an overhaul. 

What we’re watching on 28 October for homeowners

• Whether the £2 million threshold or the band charges change
• More detail on valuations by the Valuation Office Agency, payment options and appeals
• Any deferral for owners who are asset-rich but cash-poor
• Any change to council tax bands or valuations

What could the Autumn Budget mean for landlords? 

Tax rates on property income are due to rise by 2% from April 2027. This was previously announced, so will go ahead whatever the Chancellor announces on 28 October.  

Beyond that, there are three unknowns: 

• Capital Gains Tax. Capital Gains Tax (CGT) is the tax on profit when you sell something that has risen in value, such as a rental or second home. Talk of bringing it closer to income tax rates has returned, but nothing has been announced yet. If a rise started on a future date, some owners may choose to sell before it.
• Holiday lets. One rumour is that holiday lets could be treated as second homes. They would then pay council tax, not qualify for small business rates relief. This is unconfirmed.
• Mansion tax. If you own high-value rental property, a lower threshold would matter to you too.

What about indexation relief?

Indexation relief adjusts a taxable gain for inflation, so you pay less tax on growth that only keeps pace with rising prices. Reports suggest it could return if CGT rises.

What about Renters’ Rights? 

The Renters’ Rights reforms are separate from the Budget, and our Renters’ Rights guidance for landlords covers them. Our buy to let conveyancing team can help with the legal side of buying, selling or transferring a rental property. For how any tax change affects you, speak to a tax adviser. 

What we’re watching on 28 October for landlords

• Any change to CGT rates, allowances or start dates
• Any change to stamp duty for additional homes, which is not expected
• How holiday lets are treated
• More detail on the April 2027 changes

When to speak to a solicitor 

If you’re buying, selling or transferring a property, speak to a conveyancing solicitor. They can help you: 

• Understand how any change could affect your purchase, sale or timeline
• Work out your stamp duty position
• Handle the paperwork for Your First Home once it opens
• Prepare for the mansion tax if you’re buying or selling a high-value home
• Handle the legal side of buying, selling or transferring a rental property

At Setfords, you’ll work directly with one expert solicitor from start to finish, so you get their full attention. 

FAQs 

What is the Autumn Budget?

The Autumn Budget is the Chancellor’s yearly statement to Parliament on the Government’s plans for tax and public spending. It often includes measures or changes that can affect property and homeowners.

When is the Autumn Budget 2026? 

Chancellor John Healey delivers the Autumn Budget on Wednesday 28 October 2026. The Office for Budget Responsibility publishes its forecast the same day. Some measures start straight away, while others begin in a later tax year. 

Will stamp duty change in the Autumn Budget 2026? 

Not in any major way, based on what has been said so far. The Prime Minister has ruled out changing or scrapping stamp duty, and has rejected reports of a single annual property tax at this stage. Our Stamp Duty FAQs cover the current rates. 

Will the Autumn Budget affect house prices? 

Nobody can say for certain. Prices depend on mortgage rates, wages and the number of homes for sale, as well as tax. A Budget can affect the market indirectly, for example through taxes on buying, owning or selling property. 

Will the mansion tax change in the Autumn Budget? 

It could, but nothing is confirmed. The surcharge is due from April 2028 for English homes worth more than £2 million, though some reports suggest this threshold could be lowered to £1.5 million. Our mansion tax explainer covers how it works. 

When will Your First Home start? 

The Government expects pre-registration to open by the end of 2026, but the scheme isn’t live yet. The Chancellor is due to set out the full rules at the Budget. No date has been given for completing a purchase with the scheme. 

How does the Autumn Budget affect landlords? 

Tax rates on property income are already due to rise from April 2027. Capital Gains Tax changes and a council tax change for holiday lets are rumoured but unconfirmed. The Renters’ Rights reforms are separate from the Budget. 

What happens if the rules change while I’m buying or selling? 

It depends on what changes and when it starts. Some measures apply from Budget day and others from a later date, and transitional rules sometimes protect deals already under way. Your conveyancer can check once the Budget documents are published. 

This article is general information about the Autumn Budget 2026 and property and is not legal or tax advice. The law and timescales can change, and every situation is different, so please speak to a qualified conveyancing solicitor, and a tax adviser where relevant, about your circumstances.