20% agreed sales have fallen through due to property tax rumours

how to present your property for sale

Simon Gerrard, Chairman at Martyn Gerrard Estate Agents is already seeing real-time damage in the London market just from the mere speculation of new property taxes.

Simon has found that talk of these looming taxes ahead of the Autumn budget has caused almost 20% of their agreed sales in August to fall through, with buyers pulling out just a week or two later – a clear indication that the policies being touted would be severely damaging and show a total lack of understanding of the UK’s housing market.

Simon Gerrard, Chairman, Martyn Gerrard Estate Agents said:

“The panic, confusion and uncertainty sparked by these potential new taxes have caused almost 20% of our agreed sales in August to see the buyers withdraw only a week or two later. The shadow of the Budget now looms and this constant chatter will put a hold on the property market during September and October, detrimentally affecting the overall economy whilst we are in this limbo.”

With simple speculation already freezing deals and undermining confidence, Simon argues the so-called ‘mansion tax’ is effectively a London tax that will disproportionately hit ordinary families, not the genuinely wealthy.

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Estate Agent Talk

Property expert reveals SIX common house-buying errors

Property expert reveals SIX common and easily avoidable house-buying errors that you’ll regret further down the line Viewing a potential new home is exciting, but many buyers and renters get caught up in the decor and the layout and ignore some potential red flags that may mean they’ll regret their choice a few months down…
Read More
Breaking News

Half of homebuyers barely know the area they move to

Nearly half of homebuyers move to neighbourhoods they barely know – So how do you find the right home if you aren’t familiar with the area? New research from The Property DriveBuy reveals that nearly half of homebuyers are unfamiliar with their new neighbourhoods before moving in, with more than one in five admitting they…
Read More
Estate Agent Talk

The Role of Virtual Reality in the Future of Real Estate Sales

Technology continues to reshape the real estate industry, changing how buyers discover properties, how sellers showcase them, and how agents facilitate transactions. One of the most exciting innovations making waves is virtual reality (VR). What once seemed like science fiction—walking through a home without stepping foot inside—has now become a practical, powerful sales tool. For…
Read More
Estate Agent Talk

Why Are People Moving to North West London?

North West London has become an increasingly popular choice for people looking to relocate within the capital. It offers a unique blend of convenient transport links, diverse communities, and a wide range of housing options, which appeals to professionals, families, and young people alike. In this post, we explore some of the reasons why more…
Read More
Breaking News

Breaking Property News 24/09/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Instant Valuation Tool – IVT – and premium lead management dashboard available for all Nurtur, a leading property marketing technology provider, has announced that its popular Instant Valuation Tool (IVT) and premium Lead Management dashboard are now available free of charge to estate agents,…
Read More
Breaking News

Breaking Property News 23/09/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   PAT Testing explained: What Landlords, Agents and Operators need to know What Is PAT testing? PAT stands for Portable Appliance Testing. It’s the process of checking electrical appliances—anything that plugs into a socket—to make sure they are safe to use. This includes everything from…
Read More