What the Budget Means for Buying, Selling and Renting in Warrington

There were no cuts and no rises. The Prime Minister had already ruled out changes, and that's how it turned out. On a home at the North West's average asking price of around £273,000, someone already on the property ladder still pays about £3,660 in stamp duty. A first-time buyer pays nothing, because first-time buyers in England don't pay stamp duty on the first £300,000 of a home costing up to £500,000.

There had been reports that the Treasury was looking at raising it, but it didn't happen. That matters most to landlords and second-home owners, who pay it when they sell. Selling the home you live in is normally exempt anyway.

The High Value Council Tax Surcharge still starts in April 2028, at £2,500 a year on homes in England worth more than £2 million, rising to £7,500 for homes over £5 million. Lowering the threshold to £1.5 million had been floated, but it hasn't changed. Very few homes in Warrington come anywhere near either figure.

The biggest property change is for landlords. From April 2027, the tax on rental income goes up by a further two percentage points, on top of the two-point rise announced in last year's Budget. That means rates of 24%, 44% and 49%, compared with the standard 20%, 40% and 45%. Property advisers have described it as a serious blow for private landlords, and some may decide to sell up. If enough do, it could mean more smaller houses and flats coming onto the market locally over the next year or two, which would give first-time buyers more choice.

First-time buyers in England will be able to buy with a deposit from 2.5%, with the government lending 20% of the price,

interest-free for the first five years. It only applies to new-build homes from developers taking part. Household income is capped at £110,000 outside London and £140,000 in London, and the price of the home will be capped based on typical prices in each local authority area. Pre-registration opens by the end of December, applications open in February 2027 and the first loans are due from April 2027.

A new First Time Buyer ISA will replace the Lifetime ISA from April 2029. You'll be able to save up to £4,000 a year, with a 25% government bonus when you use it to buy your first home, on properties up to £450,000. Unlike the Lifetime ISA, there's no upper age limit. If you already have a Lifetime ISA, the penalty for using it on a home over £450,000 has been cut from 25% to 20%, with effect from 29 October.

Around 20 million households in council tax bands A to D will get a £100 Household Energy Payment, paid straight into bank accounts this winter. That covers a large share of homes in Culcheth, Lowton, Birchwood and across Warrington. The government also plans to scrap the gas standing charge from 2027, or as soon as possible after, which it estimates will save many households around £45 a year. The 5p cut in fuel duty has been extended to July 2027.

The surcharge banks pay on their profits is doubling from 3% to 6% for 15 months from January, and some lenders have warned that could feed through into mortgage pricing. The bigger factor for anyone buying in the next few months is still the Bank of England's interest rate decision on Thursday 5 November. Fixed rates have already climbed to around 6% on average, and the markets have been pricing in a rise.

If you held off moving until the Budget, the wait is over. The things that matter most for a typical move round here, stamp duty above all, are exactly where they were. Plenty of buyers and sellers have been sitting tight, and some of them will start moving again now the Budget is out of the way.

Thinking about your next move? If you'd like to talk through what the Budget means for you, call Sam on 01925 767000 or email sam@courtyardhomes.co.uk.