The run-up to any Budget inevitably brings speculation. Tax changes, interest rates, household finances and the wider economy all come under the spotlight, and this year is no different. With the Budget confirmed for 28 October 2026, there will undoubtedly be plenty more headlines and predictions before the Chancellor stands up to deliver it.
For anyone considering a major financial decision, uncertainty can understandably lead to a temptation to wait. And buying or selling a home is about as significant a financial decision as most of us make.
But if you’re thinking of moving in Southsea or Portsmouth, should Budget speculation really put your plans on hold?
What’s happening with Stamp Duty?
Property taxation has been the subject of plenty of discussion, but the Government has so far been clear on one important point: it is not planning changes to Stamp Duty at this Budget.
Prime Minister Andy Burnham ruled out changing or abolishing Stamp Duty in July, providing some welcome clarity for buyers and sellers ahead of 28 October. While nothing is truly final until the Chancellor delivers the Budget, the Government’s stated position is that Stamp Duty changes are not currently on the agenda.
Of course, budgets can affect household finances and confidence in many different ways, so it still makes sense to pay attention to what is announced. But if you have been waiting specifically because you thought Stamp Duty might change, the Government’s position removes some of that uncertainty.
What are the current Stamp Duty rates?
Stamp Duty Land Tax (SDLT) applies when buying residential property in England and Northern Ireland above certain thresholds.
For someone purchasing their only residential property, the current rates are:
- 0% on the portion up to £125,000
- 2% on the portion from £125,001 to £250,000
- 5% on the portion from £250,001 to £925,000
- 10% on the portion from £925,001 to £1.5 million
- 12% on anything above £1.5 million
Different rules apply if you are buying an additional property.
First-time buyers can also benefit from Stamp Duty relief. Qualifying first-time buyers currently pay no Stamp Duty on the first £300,000 and 5% on the portion between £300,001 and £500,000. If the property costs more than £500,000, first-time buyer relief does not apply.
It’s always important to check how the rules apply to your individual circumstances and seek professional financial or legal advice where appropriate.
Should you wait until after the Budget to move?
There is no single answer because every move is different. What we would caution against is allowing speculation alone to dictate your decision.
People rarely move home because the economic conditions are absolutely perfect. They move because they need more space. They’re downsizing. They’ve had children. Their children have left home. They want to be closer to family or a particular school. They’re relocating for work. Or sometimes they simply find a property they love.
If the right house for sale in Southsea or Portsmouth comes onto the market and it works for your circumstances, waiting for a hypothetical change that may never materialise could mean missing that opportunity.
Equally, sellers shouldn’t feel pressured to rush to market because of headlines about what might happen. The important thing is to understand your own circumstances and the local market before making a decision.
What we’re seeing in the property market as estate agents in Southsea and Portsmouth
The national picture in 2026 has been mixed rather than dramatic. Recent Zoopla analysis showed UK house prices continuing to record modest annual growth, while higher mortgage costs and wider uncertainty have made some buyers more cautious.
Importantly, conditions also vary significantly between regions, towns and even individual neighbourhoods. That is why national headlines can only tell you so much.
For people looking at houses for sale in Southsea and Portsmouth, what is happening locally matters just as much as the national picture.
The type of property, its condition, location, asking price and level of competing stock can all affect demand. A well-presented home priced realistically for the current market can have a very different experience from another property just a few streets away.
That’s where good local advice becomes particularly important.
Over 90 years of experience tells us one thing: life keeps moving
Between our team, Lawson Rose has more than 90 years of combined property experience. Over those years, we’ve worked through changing governments, different interest-rate environments, booming markets, quieter markets and more Budget speculation than we’d probably care to count. Markets change. Life doesn’t stop while they do.
Chris Bull, Director at Southsea estate agents Lawson Rose, says:
“After more than 90 years of combined experience in property, we know there’s rarely a ‘perfect’ time to move. Markets change, interest rates change and there will always be another Budget or headline around the corner. What matters is your own circumstances. If you need to move, or you’ve found the right home, our advice is to understand the facts, know your position and make the decision that’s right for you.”
Our role as estate agents in Southsea and Portsmouth isn’t to tell people they should move regardless of what is happening around them. Quite the opposite. We believe in honest, realistic advice.
Sometimes the right advice may be to move now. Sometimes it may be to prepare now and sell later. What matters is making that decision based on your circumstances and good information rather than reacting to every new headline.
Thinking of selling? Start by understanding your position
If you’re considering selling, you don’t need to wait until after the Budget to start planning. A professional property valuation in Southsea or Portsmouth can give you a realistic understanding of what your home could achieve in the current market. From there, you can start looking at your onward budget, the houses for sale in Southsea and Portsmouth that might suit you, and whether moving now makes financial and practical sense.
An accurate valuation isn’t a commitment to sell. It’s information — and having the right information makes it much easier to make a confident decision.
As experienced estate agents in Southsea and Portsmouth, we’d always rather have an honest conversation about your options than encourage you to make a move that isn’t right for you.
Budget 2026 and moving home: your questions answered
Is Stamp Duty changing in the October 2026 Budget?
The Government has said it is not planning to change or abolish Stamp Duty at this Budget. Prime Minister Andy Burnham ruled out changes in July, although final tax measures will only be confirmed when the Budget is delivered on 28 October.
What are the current Stamp Duty thresholds?
For a standard residential purchase where it will be your only property, Stamp Duty starts above £125,000. Different rates and reliefs apply to first-time buyers, additional properties and certain other circumstances.
Should I wait until after the Budget to put my house on the market?
Not necessarily. Your decision should take into account your personal circumstances, the local market, your property’s likely value and your onward plans rather than Budget speculation alone.
How can I find out what my home is worth?
A professional property valuation will take into account your property’s location, condition, individual features, comparable sales and current buyer demand. Lawson Rose provides property valuations across Southsea and Portsmouth with honest, realistic advice and no pressure to sell.
Don’t let speculation make the decision for you
The Budget matters, and we’ll be watching the announcements on 28 October closely. But a property move is ultimately about much more than one fiscal event.
If you need to move, have found the right home or simply want to understand your options, there’s no reason not to start that conversation now.
At Lawson Rose, we combine more than 90 years of property experience with genuine local knowledge of Southsea and Portsmouth. If you’re considering your next move, speak to our friendly team for straightforward advice about the local market and what makes sense for you.
Thinking of selling? Book a free property valuation with Lawson Rose.