Moving Compared says regeneration areas could become more attractive if buyers are able to save thousands on moving costs
Fresh proposals to remove stamp duty from new-build homes on brownfield sites could make regeneration areas considerably more attractive to buyers, according to Moving Compared, the UK’s leading home moving hub helping buyers and sellers compare trusted conveyancers and surveyors. With the overall cost of moving home already adding significantly to buyers’ budgets, removing one of the largest upfront expenses could influence both where people search and how far their money can go.
The proposal would exempt qualifying new-build brownfield homes from Stamp Duty Land Tax for 10 years after completion, which could save a typical mover around £4,650, although it remains under consultation rather than forming part of the current tax system. With many brownfield sites located in established towns and cities, regeneration schemes can offer new-build homes close to existing transport, jobs and amenities, but buyers should still weigh the wider development and its long-term prospects against any upfront tax saving.
For anyone considering a property on a former commercial or industrial site, understanding its previous use and the remediation carried out should form part of the due diligence before exchange. Environmental searches and the wider conveyancing process can help identify issues associated with the land, while buyers should also understand how much of the surrounding development is complete and what further construction is planned.
Larger regeneration schemes can take several years to complete, meaning the neighbourhood a buyer moves into may look very different once the wider project is finished. Reviewing future phases, nearby planning applications and proposed infrastructure can give a clearer sense of how the area is expected to develop, while the condition of the individual property should still be considered carefully, including whether an independent property survey is appropriate.
Buyers should also factor in the longer-term costs attached to the development, including any service charges or estate management fees that continue beyond completion. Any initial stamp duty saving therefore needs to be considered alongside the wider cost of ownership and the terms attached to the property rather than treated as a saving in isolation.
If incentives for brownfield housing become more prominent, they could ultimately encourage more buyers to consider regeneration areas that previously sat outside their search. For movers, the opportunity may be less about chasing a tax break and more about identifying locations where the wider development offers good value over the longer term.
About Moving Compared
Moving Compared is the UK’s leading home moving hub, helping buyers, sellers and movers compare quotes from trusted professionals across conveyancing and surveying. Built to make the moving process clearer and less stressful, Moving Compared connects users with vetted, reviewed and rated partners, giving movers a simple way to compare services, understand costs and choose the right professionals for their move.
The platform brings conveyancing and surveying into one place, helping users save time, reduce uncertainty and avoid last-minute cost surprises during one of the most expensive and complex moments in the property journey. For more guidance, movers can also use Moving Compared’s moving costs guide.
