Property tax threat is slowing down housing market, say UK agents

Talk of the chancellor looking at a new levy on expensive homes or removing CGT exemption is making buyers wary

Speculation that the chancellor could announce new property taxes in her autumn budget is likely to slow down an already price-sensitive housing market, estate agents have said.

Rachel Reeves is reportedly considering a tax on the sale of homes over 500,000 and the removal of the capital gains tax exemption on primary residences above 1.5m as ways to boost income for the government.