Conservative leader Kemi Badenoch has reinforced her party’s support for abolishing stamp duty during a visit to an estate agency in Surrey, signalling that the policy could become a key battleground at the next election.
Badenoch was accompanied by former chancellor Jeremy Hunt and shadow business secretary Andrew Griffith during the visit to Cavender Estate Agents in Godalming on Monday. The trio discussed housing market conditions, barriers to property transactions and the potential impact of tax reform on market mobility.
Flagship Conservative pledge
The Tory leader first unveiled the stamp duty abolition policy at her party conference in October 2025, where she received a standing ovation from activists. She presented the move as a flagship pledge designed to boost home ownership and revive market activity.
Badenoch said at the time that scrapping stamp duty would “unlock a fairer and more aspirational society” and benefit people of all ages. The policy has since gathered momentum within the party, helping to energise her leadership position.
Mark Cavender, owner of Cavender Estate Agents, told Property Industry Eye: “They wanted my opinion on the housing market, how abolishing stamp duty would boost the market and a brief discussion about the Renters Rights Bill. They were accompanied by a lot of media.”
Industry support for reform
The property industry has broadly supported stamp duty reform. Agents have long argued that the tax discourages mobility by adding significant costs to moving home. Many professionals urged chancellor Rachel Reeves to address the issue in November’s Autumn Budget, though changes to stamp duty thresholds went in the opposite direction.
For landlords looking to expand or restructure their portfolios, stamp duty represents a substantial transaction cost. A £300,000 buy-to-let purchase currently attracts £11,500 in stamp duty, including the 5% additional property surcharge introduced in October 2024.
Colleen Babcock, spokesperson for Rightmove, said: “We’ve been calling for stamp duty reform for some time, as it remains a major barrier for many people looking to move.”
What would abolition mean for landlords?
Full stamp duty abolition would significantly reduce upfront costs for landlords acquiring new properties. However, the policy’s practical implementation remains unclear, particularly regarding whether the additional property surcharge would also be scrapped or maintained to discourage property accumulation.
The political timing matters for landlords weighing major acquisition decisions. With no general election required until January 2030 at the latest, any Conservative policy would need to survive both electoral success and the practical challenges of implementation.
The visit follows recent data showing landlord confidence is recovering, though many investors remain cautious about regulatory changes. The current stamp duty rates will see threshold changes in April 2025, adding further complexity to purchasing decisions.
Opinion
Stamp duty abolition makes a compelling campaign pledge but raises serious fiscal questions. The tax generates approximately £15 billion annually for the Treasury. Whether any government could realistically eliminate it entirely, rather than reform thresholds or rates, remains doubtful. Landlords should focus on market fundamentals rather than betting on distant policy promises.
