Following the appointment of Andy Burnham as Prime Minister on 20th July 2026, property professionals have urged the new government to reform the conveyancing process.
However, the key question is… How likely is meaningful change under Burnham’s leadership?
Our Residential Property lawyers explore.
Proposed Annual Property Tax
It is widely speculated that property taxation could be reformed.
The iPaper reported that Burnham has reportedly expressed support for a proposal promoted by ‘’Fairer Share’’ which advocates for replacing both council tax and stamp duty land tax with an annual property tax set at 0.48% of a property’s value.
Under this model, the owner of a £300,000 home would supposedly pay £1,440 in property tax annually.
While the proposal could reduce the tax burden for some homeowners, it could also raise some other potential concerns.
Unlike the current council tax system, the proposed property tax would have no upper limit for which costs are capped.
As a result, owners of high-value properties could face substantially higher annual tax bills.
Should such reforms be implemented, there may be an increase in the number of high-value properties on the market due to higher ownership costs.
Exploring Possibility of a Land Value Tax
It is also reported that Andy Burnham is exploring replacing Stamp Duty Land Tax (SDLT) with a land value tax.
For homeowners or prospective buyers, any changes to property taxes could have significant implications for the property market.
Moving costs play a key role in buyer activity; higher taxes may discourage buyers from purchasing new properties, while lower taxes could stimulate demand and increase the number of transactions we see.
Building More Homes
Alongside taxation reform, Burnham has also pledged to tackle rough sleeping by building more council homes.
But what will this look like on a local level?
As Manchester is now the fastest-growing major urban economy in the UK, Andy Burnham, in his 2024 mayoral manifesto, pledged to use devolved funding to deliver 10,000 new homes across Greater Manchester by 2028.
He has also proposed purchasing long-term vacant properties and bringing them back into use, with the aim of helping homeless families move out of temporary accommodation and into more stable housing.
Burnham has suggested that this potential policy could be funded by redirecting the existing £39 billion Affordable Housing Programme entirely to social rent homes.
Contact Our Residential Property Team
Whilst the above proposals are informative and promising, they have not materialised yet.
At Myerson, we will continue to monitor the political landscape and anticipate how the proposals could impact our clients. Whether you are planning to buy, sell or invest in property in the near future, it is prudent to keep a close eye on potential reforms and seek high-quality advice tailored to your specific circumstances.
You will be in safe hands with our Residential Property team.
0161 941 4000
Acacia Spencer
Solicitor Apprentice
Acacia joined Myerson in September 2024 after finishing her A-Level studies at Fallibroome Academy sixth form with straights A’s.
She is currently completing her first legal seat in the Residential Property Team. Throughout the 6-year apprenticeship programme, Acacia will work with various legal teams before qualifying as a solicitor in 2030.
About Acacia Spencer