Why was SDLT benefits removed for FTB over 500k? This has massively imacted the flat market in London and hurts literally everyone in the city.

EA told me today that it's almost impossible selling a flat for over 500 for the last 2 months as no one wants to shell out an extra £10k out of pocket to pay this tax.

He said it's really impacting the market for flats that were priced around £550k and he's feeling sorry for so many sellers as their equity took as sharp dive.

I guess that's just the nature of the housing market and regulations. It just sucks for those sellers as most have resigned to not selling and will raise their growing families in cramped 2 bed flats.

And now because FTBs no longer get any SDLT benefits over £500k, it means that so many more people who would have gotten onto the property ladder will be renting for longer.

It's actually turning off many people from even buying as they're seeing first hand how much flat's can devalue because of government intervention.

This tax implementation feels like it really hasn't been thought out well and is going to hurt Londoners a lot.

If I started in my 2bed zone 4 flat for another year, my rent would have gone by £500/mo. My landlord (big conglomerate company) raised rent for my fate from £1850 in 2021 to now £2600 in 2025. That is insane!!!

And yet these rental flats are being swooped up in days because there's no other alternatives.

Meanwhile so many big houses remain occupied by one or 2 older people who can't afford to downsize because of SDLT.

Couples with kids or or want more kids can't afford to because saving an extra £10k is this economy isn't easy.

Lots of people who bought flats or homes (it does affect homes in the 550k price obviously) are seeing big hits in their equity and they can't move either.

I'm just flabbergasted by such an insane tax that is crippling the economy.