What the Autumn Budget Means for Guildford, Haslemere & Liphook
Clarke Gammon – Estate Agents in Guildford, Haslemere & Liphook
After weeks of leaks and speculation, the Autumn Budget is finally here. The headlines may feel mixed, but for most movers across Guildford, Haslemere and Liphook the message is reassuring: no sweeping changes to everyday home moves, clearer rules for the top end of the market, and a long planning runway for anything new. In short – stability, with time to prepare.
The short version (and why it’s good news locally)
- Stamp Duty Land Tax (SDLT) unchanged for standard home purchases. The much-rumoured abolition or overhaul didn’t happen.
- Second homes surcharge increased to 5%—this affects a narrow group and should reduce investor competition for typical family homes.
- New “mansion tax” style annual surcharge for £2m+ homes from April 2028, based on 2026 valuations, tiered by value. This is targeted at the very top of the market and does not affect the majority of local homeowners.
- Landlord income tax bands (property income) rise by 2% from April 2027 (22% / 42% / 47%). Portfolio landlords should model yields; accidental landlords may choose to rationalise.
Across our patch, that mix translates into continuity for everyday buyers and sellers—and clarity for those at £2m+ who now have years to plan.
Stamp Duty: clarity keeps the wheels turning
The Budget did not abolish or rewrite SDLT for standard purchases. That clarity matters. When buyers know the SDLT rules won’t jump overnight, chains form faster and sales progress with less hesitation. We expect some would-be movers who were “waiting for the Budget” to re-enter the search, especially across family-home hotspots.
Second homes: 5% surcharge
The surcharge for second-home purchases rises to 5%. While this adds cost for a small subset of buyers (holiday-lets, pied-à-terres, investment purchases), it softens competition in the brackets most sought after by local first-time buyers and second-steppers. Practically, that should reduce “gazumping risk” on well-guided family houses and give owner-occupiers a cleaner run at the homes they love.
Mansion surcharge (£2m+): focused, tiered, and with a long runway
The government confirmed a new annual surcharge on £2 million+ homes in England, starting April 2028, assessed from 2026 valuations. It’s tiered—£2.0–£2.5m in the lowest band, scaling for higher values (e.g., £5m+), and it sits on top of existing council tax (it doesn’t replace it).
How that plays here
- In Guildford and Haslemere, we do have pockets of £2m+ property – prime roads near the Downs, large plots with views, and character houses with extended footprints.
- In Liphook, £2m+ is rarer, concentrated in substantial homes with acreage or unique settings.
- Overall, the £2m+ segment remains a minority of the local market, reflecting national context (industry analysis suggests c. 0.5% of England’s housing stock is £2m+).
Positive takeaways for prime owners
- You have two full years to plan before 2026 valuations, and then a further two years until the 2028 start date – ample time for tax, estate and ownership structuring.
- The surcharge is targeted and predictable; it replaces rumour with a rulebook, which supports transaction confidence in premium brackets rather than freezing them.
- If you’re considering selling before 2028, today’s clarity reduces buyer uncertainty, which historically helps prime markets keep moving.
Landlords: time to tune your numbers (and portfolio)
Following recent years of tighter buy-to-let tax treatment (mortgage interest relief changes, SDLT surcharges), the Budget adds a 2% rise to property income tax bands from April 2027:
- Basic rate: 22%
- Higher rate: 42%
- Additional rate: 47%
What we expect locally
- Professional landlords will model and adapt – upgrades that improve EPCs, reduce voids, and lift rents sustainably become even more attractive.
- Some small or accidental landlords may choose to sell; where they do, owner-occupiers gain choice – supportive for first-time buyers and movers targeting well-located houses near stations and schools.
- The rental market stays tight – tenant demand in Guildford/Haslemere/Liphook continues to outstrip supply, supporting yields for well-run properties.
What it means for you (by scenario)
If you’re buying or selling a typical family home
- Status quo on SDLT = fewer moving parts and smoother chains.
- Less investor competition from the 5% second-home surcharge can be a helpful tailwind.
- Realistic pricing still wins: stock levels remain elevated, so well-guided homes attract early viewings and cleaner offers.
If you own (or are buying) at £2m+
- Expect a modest, predictable annual cost from 2028; build it into your budgeting.
- 2026 valuations give you a natural checkpoint to take advice, restructure if needed, or time a move.
- Prime buyers typically value certainty—this clarity should keep serious activity flowing.
If you’re a landlord
- Use the long runway to optimise structure, finance and EPC.
- Consider portfolio balancing: retain high-performers, upgrade “nearly-there” assets, and exit where the numbers don’t pencil.
- Present well and price sensibly—void reduction beats chasing a top-of-market headline rent.
Local action points (Our quick checklist)
For sellers
- Price with evidence, not headlines – use fresh, street-level comparables.
- Win the first two weeks with best-in-class photography, floorplans and access (after-work & Saturdays).
- Front-load legals (protocol forms, guarantees, lease packs) to offset longer national timelines.
For buyers
- Agreement in Principle ready = stronger offers and faster legals.
- Compare EPC, orientation, upgrade scope and total commute time—not just square footage.
- When it’s the right home at a fair guide, move decisively; realistic pricing is drawing multiple proceedable buyers.
For £2m+ owners
- Book an early valuation & tax conversation before the 2026 assessment window.
- Clarify your 5-year plan (hold, upgrade, or move) so the 2028 start date is a non-event, not a deadline.
- Showcase differentiators (plot, views, energy upgrades, outbuildings/annexe potential, EV charging)—they protect value and buyer appeal.
The bottom line
For most homeowners and movers across Guildford, Haslemere and Liphook, the Budget delivers stability and confidence. SDLT remains familiar, investor competition is gently curbed, and the new top-end surcharge is clear, tiered and years away. That combination supports a steady, buyer-friendly market where realistic pricing and good preparation convert interest into offers.
If you’d like a confidential chat about how the Budget touches your next move, or a precise, evidence-based valuation of your home – standard market or £2m+ prime – Clarke Gammon is here to help with street-by-street insight and a practical plan.
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Steve Cook FNAEA Senior Consultant – Clarke Gammon
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