Key measures include:
- A ‘mansion tax’ on homes valued above £2 million, effective from April 2028
- No changes to stamp duty, despite widespread speculation in the lead-up to the budget
- A new 2% additional income tax on rental income for landlords
So, what does this mean for the housing market in East Anglia?
East Anglia has remained one of the most resilient regional markets in recent years, with sustained demand across Suffolk, Essex and Norfolk. The budget outcome, particularly the confirmation that stamp duty will remain unchanged provides welcome stability after months of uncertainty.
Impact on different segments of the market
High-value homes (£2m+)
While East Anglia has fewer properties above the £2 million threshold compared to London or the Southeast, premium homes particularly in coastal hotspots and affluent villages will be watching the introduction of the 2028 mansion tax closely. We may see increased activity in the upper end of the market as owners reassess long-term plans ahead of the tax’s implementation.
First-time buyers
The region has already seen stronger first-time buyer activity this year, and the continuation of stamp duty relief until April 2026 is likely to support this trend.
Landlords
The additional 2% income tax on rental income adds further pressure to East Anglia’s rental market, where supply is already constrained. Some landlords may consider exiting the sector, which could create more opportunities for buyers but may tighten rental availability further.
Is now a good time to buy or sell in East Anglia?
For many, yes. The budget removed a significant layer of uncertainty, and we are already seeing renewed confidence from buyers. Enquiries across the region have stayed steady, and we anticipate a noticeable uplift in instructions and sales activity in the coming months.
Now more than ever, well-presented, competitively priced properties stand out. Homes that are thoughtfully marketed, particularly those showcasing East Anglia’s lifestyle benefits such as rural settings, character features or coastal access will continue to attract motivated buyers.
If you are considering a move, we are on hand to provide tailored advice and answer any questions you may have about navigating the market in the months ahead.
