In its 23 September 2026 feature, “exclusive PrimeResi survey finds most respondents favour shifting the tax burden away from transactions and towards property ownership – but opinion is split over abolishing SDLT altogether”.
Camilla Dell, Managing Partner at Black Brick Property Solutions, has called for substantial Stamp Duty reform, arguing that high transaction costs are restricting movement in the London property market and discouraging buyers from transacting.
Her comments feature in a new PrimeResi survey of senior figures from across the prime residential property industry, which examines how England’s property tax system could be reformed to support a healthier and more active housing market.
The survey found strong support for shifting some of the tax burden away from property transactions and towards property ownership. Almost two-thirds (64%) of respondents favoured lower transaction taxes combined with higher annual property taxes, while a further 18% supported replacing both Council Tax and Stamp Duty Land Tax (SDLT) with an annual tax linked to current property values.
However, opinion was divided on whether Stamp Duty should disappear entirely, with 45% supporting abolition and 55% preferring to retain it in some form.
Stamp Duty is restricting mobility
Dell, founder and Managing Partner of London buying agency Black Brick, described Stamp Duty as “a tax on mobility” and highlighted its particular impact at the upper end of the London property market.
“The fundamental problem with the current system is that Stamp Duty actively discourages people from moving,” she said. “At the upper end of the London market, the sums involved can be enormous and increasingly influence buyers’ decisions about whether to transact at all.”
Black Brick’s view reflects a wider concern within the prime property industry that high upfront purchasing costs can reduce the incentive to move. This can affect buyers looking to upsize or relocate as well as homeowners who might otherwise consider downsizing.
Dell was among the industry figures surveyed who supported abolishing residential Stamp Duty, provided that the revenue was raised through an alternative system.
The wider economic impact of property transactions
Dell also highlighted the importance of looking beyond the immediate Stamp Duty receipt when assessing the economic impact of property taxation.
“A house move doesn’t just generate Stamp Duty; it supports estate agents, lawyers, surveyors, mortgage providers, removals firms, builders, decorators and retailers,” said Dell. “Taxing the transaction too heavily risks suppressing all of that associated economic activity in pursuit of the tax receipt itself.”
This is particularly relevant to the prime London property market, where significant transaction costs can influence purchasing decisions among both domestic and international buyers.
Rethinking Council Tax and annual property charges
The survey also considered whether a greater proportion of property taxation should be collected through annual charges rather than at the point of purchase.
Dell said Black Brick clients generally recognise that Council Tax is relatively low and may be prepared to pay more, but cautioned against introducing additional annual charges without addressing existing transaction taxes.
“What we should avoid is simply layering another annual charge on high-value properties while leaving punitive transaction taxes untouched. That risks increasing the overall tax burden without addressing the fundamental problem.”
The comments come as property taxation remains firmly on the political agenda, with debate continuing over the future balance between Stamp Duty, Council Tax and taxes on higher-value homes.
A call for substantial Stamp Duty reductions
Asked what change she would prioritise in the next Budget, Dell called for substantial reductions in Stamp Duty across the board, with particular attention to higher-value transactions.
Her position reflects Black Brick’s experience advising buyers in London and the South East, where SDLT can represent a significant additional cost when purchasing a home or investment property.
The broader PrimeResi survey suggests there is considerable appetite within the property industry for reform. While respondents differed on the best replacement model, the dominant theme was clear: reducing the tax penalty associated with moving could help improve liquidity and encourage more transactions across the housing market.
For buyers navigating the prime London property market, understanding the impact of Stamp Duty and other purchasing costs remains an essential part of acquisition planning. Black Brick advises clients throughout the buying process, from property search and acquisition through to negotiation and strategic advice on the London property market.
