The Chancellor’s Autumn Budget arrived without the sweeping Stamp Duty changes many expected. Instead, it delivered a series of tax adjustments that will influence sentiment across the West London market – but not disrupt it.
What matters now is how these measures play out across Hammersmith, Shepherd’s Bush and Chiswick – here’s our update on the changes that will affect those making property related plans and the outlook for the months ahead.
A measured market meets a cautious Autumn Budget
Going into November, buyers and sellers alike had adopted a wait-and-see stance, anticipating major reform – this was demonstrated plainly in W4 the week prior to the Budget when just 1 property was listed over 24 hours, as though the market had pressed pause.
When big changes didn’t materialise, the reaction was not shock but quiet relief. Stability – even with tax rises in the years ahead – is preferable to uncertainty.
Locally, the fundamentals remain similar to what we reported in late October in our West London Property News update. Homes priced accurately and presented well continue to find committed buyers, while considered landlords and long-standing tenants maintain the steady rhythm of the lettings market.
“The market reacted to clarity, not change. Once stamp duty was confirmed as untouched, conversations picked up again. Buyers want certainty, and now they have it.”
Louise Jones, Chiswick Sales Manager
Higher-value homes come into sharper focus
The introduction of the High Value Council Tax Surcharge from April 2028 is perhaps the most relevant measure for West London.
With homes valued above two million pounds set to attract an annual surcharge ranging from £2,500 (properties valued over £2million) to £7,500 (for properties valued over £7million), many prime and properties in W4, W6 and parts of W12 will incur these charges.
For many local homeowners, this is less a ‘mansion tax’ and more an acknowledgement of London’s reality – where a well-loved family house can exceed the threshold without being palatial.
We expect some homeowners to start reviewing their medium-term plans, especially those considering downsizing before 2028. Others will simply absorb the change, recognising that demand for well-positioned West London homes remains resilient.
“This surcharge won’t disrupt the fabric of the West London market, but it may reshape timelines. Owners who were already thinking about their next chapter now have a firmer horizon to plan around.”
Ashley Clements, Managing Director
Autumn Budget Lettings Impact: Landlords face rising costs – and tenants feel the ripple
From April 2027, tax on property income will increase across all bands, with the basic rate rising to 22% and the higher rate to 42%. HMRC has now formally confirmed these figures, correcting earlier drafts and removing uncertainty.
This change lands on top of a decade of incremental pressures on private landlords – from mortgage interest relief restrictions to tighter regulation through the Renters’ Rights Act.
Some landlords will reassess whether their properties remain viable over the long term; others will stay the course, adjusting rents gradually to keep pace with rising costs.
For tenants, the immediate impact is subtle. Rents are not expected to surge overnight, and West London’s rental inflation had already cooled to healthier levels through 2025. But over the next few years, reduced supply could once again tilt demand in favour of well-presented homes.
“This isn’t a dramatic moment for tenants or landlords, it’s a continuation of the slow squeeze. Landlords who manage their properties well and take a long-term view will continue to attract excellent tenants, but supply will remain under pressure.”
Lettings Manager Aggie Tukendorf
Market confidence returns as uncertainty fades
Now that stamp duty reform is off the table for the foreseeable future, analysts expect a gentle rise in transactions heading into 2026.
Early reaction from national housebuilders and lenders suggests a renewed sense of confidence, with the clarity of the Autumn Budget proving more influential than the measures within it.
Locally, that confidence is already taking shape. Instructions that had been paused in early November are returning to market whilst many waited to see what would be included in the Autumn Budget.
Buyers who were delaying decisions are viewing with purpose again. The mood is considered but constructive.
“Momentum never vanished – it paused. What we’re seeing now is the natural resumption of plans that were temporarily on hold. Families still need more space, downsizers still want simplicity, and first-time buyers still see West London as a long-term bet. The Autumn Budget has simply cleared the fog.”
Owner and Director John Horton reflects.
Looking ahead with realism and reassurance
The coming months will see the first effects of a calmer financial environment, supported by expectations of a modest Bank of England rate reduction in early 2026.
With house price growth forecast to average around two and a half per cent annually towards the end of the decade, the UK market, and West London in particular, looks set for a period of steady, sustainable progress.
For sellers, the message is unchanged: preparation, presentation and realistic pricing remain the pathway to success.
For landlords, this is the moment to review strategy and plan ahead of tax changes.
For tenants, choice is improving, but quality continues to move quickly.
West London remains one of the most desirable and resilient corners of the capital. And in a market shaped by realism rather than volatility, the right advice has never mattered more.
To discuss your property related plan, get in touch.
