- 57% fear hidden moving costs like solicitors, surveys and removal vans.
- 53% say interest rates and mortgage affordability are holding them back.
- 26% are nervous about job security in the current economy.
Elliot Castle, CEO of We Buy Any Home, said the data reflects a market paralysed by uncertainty.
“We’re seeing a perfect storm,” he said. “People want to move – but they’re frozen by what the November Budget might bring. Will stamp duty go up? Will tax thresholds change? Will interest rates drop, or stay stuck? The lack of clarity is stalling the market.”
“It’s like waiting for a traffic light that never turns green”
While homeowners in London, the East of England, and Wales showed the most anxiety about tax changes, younger homeowners were more concerned about mortgage rates and job stability – with 68% of 45 to 54-year-olds saying they feared not being able to afford their mortgage if they moved.
And it’s not just financial concerns. The uncertainty itself – about what might or might not change – is driving a “wait and see” approach across the board.
Elliot said: “It’s like waiting for a traffic light that never turns green. People feel they can’t plan properly until they know what Rachel Reeves will announce.
“It’s understandable – no one wants to make the biggest financial decision of their lives in the dark.”
What could change in the Budget?
As Labour prepares its first full economic statement, housing experts are speculating about several possible reforms:
- Stamp duty reform – including new bands or temporary holidays for first-time buyers
- Capital gains tax thresholds – could be tightened for second homes and investment properties
- Mortgage relief or homebuyer support – aimed at stimulating market confidence
- Property taxation on second homes and landlords – part of a potential push to rebalance the housing market
But while some of these may offer relief, others could hit homeowners hard – especially if Reeves seeks to raise revenue from the sector amid inflation and borrowing pressures.
“Even small tweaks to stamp duty or capital gains can have a huge ripple effect,” Elliot said. “Buyers get cold feet, sellers delay decisions – and the whole chain stalls.”
For now, thousands of would-be movers are holding their breath. Elliot added:
“The Budget needs to bring clarity and confidence. Otherwise, we risk deepening the gridlock we’re already seeing in the property market.”
