What does the upcoming Budget mean for the UK property market?

What does the upcoming Budget mean for the UK property market? This programme was first broadcast on Bloomberg TV on 4th October 2026. On this episode of Property Matters, Stephen Galpin is joined by Tom Bill, Head of UK Residential Research at Knight Frank, to examine the state of the property market and the growing uncertainty surrounding the Government’s plans. They discuss rising mortgage rates, weakening transaction volumes and why the market desperately needs an extended period without bad news. Tom also explores the potential impact of changes to Capital Gains Tax, National Insurance on rental income, high-value Council Tax and Stamp Duty. The conversation also looks at the Renters’ Rights Act, leasehold reform, the changing role of estate agents and the growing challenges facing landlords and developers. Could the Government’s tax plans make property less attractive to investors? Could further changes push rents even higher? And what single measure could give the housing market the biggest boost? With speculation mounting ahead of the Budget, Tom gives his view on what the industry is hoping for and why, perhaps, the best outcome would be for the Government to leave property alone.