The UK property market remains under close watch following confirmation from Prime Minister Andy Burnham that there will be no changes to stamp duty in this year’s Budget. Despite widespread speculation and ongoing calls for reform, the government has made it clear that altering or abolishing the tax is not currently on the agenda.

Summer is traditionally a quieter period for the UK property market, with school holidays, family commitments and overseas travel often causing buyers and sellers to put their plans on hold. This year, however, prolonged hot weather appears to have added to the seasonal slowdown.

Britain’s ongoing housing shortage has once again come under the spotlight, with new research highlighting that the issue is not one of demand or land availability—but rather decades of underbuilding.

The UK property market is entering an interesting period, with uncertainty surrounding the upcoming Autumn Budget causing some prospective buyers to pause before taking their next step.