Despite months of speculation and uncertainty, new research suggests that buyers, sellers and renters across the country remain largely undeterred by the policies announced in the recent Budget statement.
A new survey found that more than half say they have already decided to proceed with their planned property transaction and in many cases accelerate it – in the 10 days following the chancellor’s speech.
OnTheMarket has published a special post-Budget edition of its Property Sentiment Index to assess how the long-awaited announcement has influenced UK homemovers and to provide an early indication of the market outlook.
Half of respondents (50%) say the outcomes of the Budget have had no impact on their moving or investment plans, despite earlier concerns, while 6% report they are actually accelerating their plans following the announcements. Among the remaining 44% of respondents who had been planning a move, only 15% reported either delaying or cancelling their plans, with 20% still undecided.
Expectations of the Budget’s impact on the wider market are mixed. Around a third (34%) expect the overall outcomes to have a negative effect, while 16% anticipate positive results. Almost a third (30%) believe the announcements will have no effect on the property market.
Policy-specific measures, such as the Council Tax surcharge sometimes referred to as a “Mansion Tax,” are largely viewed as neutral, with only a small minority – 2% – reporting that they are cancelling plans as a result.
Londoners’ views on both the surcharge and the Budget overall are broadly in line with the rest of the country, despite some expectations that the capital might be disproportionately affected.
Renters are twice as likely as buyers to expect the Budget will have a positive impact, while older age groups are more inclined to view it negatively.
This early positive sentiment points to a cautiously optimistic outlook for a potential market rebound in the New Year, following the price growth stall reported in November’s Halifax HPI, which reflected pre-Budget uncertainty.
The findings also stand in contrast to predictions made earlier this week that London’s housing market would flatline for the next three years, with Londoners largely sharing the same outlook as the rest of the country.
Jason Tebb, president at OnTheMarket, commented: “Ahead of the Autumn Budget, there was widespread concern about potential property tax changes, but our latest property sentiment report shows the impact on consumer plans has been relatively modest. While some uncertainty remains, many buyers, sellers, and renters are continuing with their plans, which is a positive sign for market stability as we head into the new year.”
Post-Budget Property Sentiment: 10 Days On
Of those surveyed, 40% of had plans to buy a new home and 23% had been intending a rental move prior to the Budget.
Following the announcement on the 26 November 2025, half (50%) of these say their plans remain unchanged, while 6% have decided to accelerate their moving plans suggesting that the outcomes of Budget have not significantly disrupted confidence and, instead, provided welcomed clarity after some of the most turbulent speculation in recent years.
Only 12% have decided to delay their plans and 3% have cancelled them. However, 20% of respondents with prior moving plans are still unsure or undecided (the remaining 9% responded as ‘other’).
When asked about the overall effect of the Autumn Budget on the property market, 30% believe it will have neither a positive nor negative impact. However, 34% view it as somewhat or very negative, compared to 16% who see it as somewhat or very positive. This indicates a cautious outlook, though not as severe as many had feared.
Despite speculation around new tax policies, it appears the council tax surcharge (also known as the Mansion Tax in which properties over £2m will pay an annual tax of £2,500 and those over £5m subject to £7,500 a year from 2028) will have no impact on buyer and seller plans (66%), with 2% stating it as the specific reason for cancelling their plans.
Although forecasts suggested Londoners would be hardest hit by the council tax surcharge, their views on this policy and the Budget overall are broadly in line with the rest of the country, with responses closely reflecting national averages.
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