Rightmove has urged the government to abolish stamp duty for first-time homebuyers and to introduce a new Help to Buy-style loan scheme, highlighting the urgent need to support buyers amid a significant decline in newbuild property availability. The property listings website, in partnership with the builder Barratt Redrow, warned that the number of new developments advertised for sale is at its lowest point since January 2017, underscoring challenges in housing supply and affordability.

This appeal adds pressure on Labour leader Andy Burnham as he positions himself for a potential future role as prime minister. The government is widely expected to fall short of its post-2024 election target of delivering 1.5 million homes over five years. According to data published by Savills, the estimated shortfall could be as large as 662,500 homes, with only 837,500 projected to be completed by 2030. Annual housing completions have been shrinking, falling 4.1 percent to 190,602 in 2025.

Several structural factors are contributing to the slowdown. Building costs have surged 17.5 percent over four years due to ongoing supply chain disruptions, worsened by geopolitical tensions including recent wars. The construction sector is also facing a labor shortage, with the workforce at its smallest since 1998. This decline is partly attributed to the departure of eastern European workers after Brexit, coupled with difficulties in recruiting and retaining UK-based workers. Additionally, increased employer national insurance contributions have been cited as exacerbating recruitment challenges.

Rightmove and Barratt Redrow have called for stamp duty exemptions for first-time buyers on all new and resale properties as a measure to stimulate buyer demand and encourage development. Since April 2025, the stamp duty threshold for first-time buyers was lowered from £425,000 to £300,000, resulting in a larger proportion of buyers paying the tax. Analysis by Zoopla shows that nearly 80 percent of first-time buyers in London now pay stamp duty, up from 49 percent the previous year. Similar increases have been seen across the southeast and northeast regions.

The companies have also advocated for the reinstatement of a Help to Buy-style scheme, which previously operated from 2013 to 2023 and helped over 320,000 first-time buyers with government-backed loans. While the original scheme cost taxpayers £24.7 billion and faced criticism for inflating house prices, industry representatives argue that targeted assistance remains vital amid current market conditions. Alex Slater, Rightmove’s director of new homes, emphasized the central role of first-time buyers in the housing market and the growing difficulties they face securing affordable properties.

Steve Mariner, group sales and marketing director at Barratt Redrow, suggested that a partnership between government and developers on a new support scheme could facilitate more homeownership, boost market activity, and drive economic growth. However, government officials have expressed reluctance to reintroduce similar loan programs.

Several major housebuilders have sounded alarms over the outlook for construction. Crest Nicholson expects to build fewer homes this year compared to 2025, Berkeley Homes has halted land purchases for new projects, and Taylor Wimpey has warned of potential profit declines in 2026. Analysts warn that, despite any stimulus efforts, elevated mortgage rates and ongoing political uncertainty—including repercussions from the Middle East conflict—will continue to weigh on the housing market. Tom Bill, head of UK residential research at Knight Frank, noted that recent global developments have further strained market conditions.