'Location, Location, Location' Star Calls for Stamp Duty Reform

Location, Location, Location star Phil Spencer is pushing for Stamp Duty reform along side Rightmove and Zoopla.

The Campaign

The campaign is calling for enabling home buyers to spread stamp duty costs across two to five years, rather than paying the full amount within 14 days of completion. The idea is a practical response to the affordability challenges faced by some first-time buyers and movers.

Their suggestion is pragmatic and timely. Currently, a property costing around £290,000 triggers a stamp duty bill of roughly £4,500—a potential barrier when buyers are already covering legal fees and moving costs. Spreading the cost could help to reduce cash flow pressure and unlock any buyer demand that’s currently constrained.

The Impact

Property portal Rightmove believes that wider economic benefits are implicated by the move, with more transactions supporting market health and creating a broader economic stimulus — while Zoopla feel that stiff stamp duty can sometimes limit both housing moves and job relocation.

The property portals’ combined data shows over 80% of movers now pay stamp duty, while 40% of first-time buyers do, up from last year.

Their joint campaign aligns with other voices calling for regional adjustment to thresholds. Rightmove has long argued for a more localised approach, raising thresholds in higher-cost areas in the UK.

Why Stamp Duty Reform Should Take Priority

1. Immediate affordability boost – allowing phased payments could help more people complete purchases they can already afford in principle.
2. Boosts housing market health – more moves mean more listings, more completions and faster progess, meaning first time buyers, homemovers and estate agents would benefit.
3. Supports economic mobility – buyers who relocate for work often face the financial challenges of a new mortgage, moving costs and stamp duty. Leaner payment options would remove the bottleneck this can create.
4. Addresses regional inequality – Uniform thresholds penalise buyers in more expensive regions, whereas a locally sensitive system would be fairer and more flexible.

What Reform Could Look Like

1. Phased stamp duty payments – buyers spread their tax over months or years instead of paying in full at completion.
2. Regional thresholds – regions like the South East should have higher nil-rate bands similar to pricier markets.
3. Permanent relief for first-time buyers – thresholds introduced in 2022 (e.g. up to £425k) should be reinstated or made permanent to support young buyers wishing to remain in their home town or move for their career

The Next Step
As professionals working closely with buyers and sellers every day, we see the influence of Stamp Duty first-hand. We believe the campaign is a step in the right direction and that the petition could help bring Stamp Duty reform into the spotlight.

The petition is available online, here.

Sources:

https://petition.parliament.uk/petitions/729071

Stamp duty calculator – Zoopla

Rightmove – UK’s number one property website for properties for sale and to rent

Rightmove calls for stamp duty reform with only 4% of London homes exempt – Rightmove Press Centre

Phil Spencer and portals lead campaign for Stamp Duty reform – Letting Agent Today

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