A temperature check of consumer sentiment suggests home buyers confidence is around half what it was at the start of the year according to the latest industry sentiment tracker from the conveyancing regulator the Council for Licensed Conveyancers (CLC).
The regulator’s latest survey identified confidence amongst buyers and sellers continues to hover between 12-15%, less than half of what it was when the CLC took the temperature of the market in January.
Confidence amongst conveyancers themselves has sunk to its lowest levels since the tracker began at the start of 2025.
It is “perhaps not surprising that those working in the industry are pinning their hopes on Chancellor John Healey delivering a much-needed confidence boost” said the CLC, with rising mortgage rates and wider economic uncertainty all playing their part in the much publicised downturn in transaction volumes.
Asked what conveyancers want from Chancellor John Healey’s first Budget on Wednesday, one in four conveyancers (27%) would most like to see reform or reduction of the Stamp Duty land tax. The possibility of introducing reliefs for those downsizing as an incentive to free up more family homes was another idea mooted.
Improving mortgage affordability and access to finance (23%), greater fiscal and tax certainty for the property sector (17%), and more support for first time buyers (15%) were all priorities for respondents.
Planning reform to accelerate housing delivery was a priority for 8%, while 4% would like to see measures introduced to encourage institutional investment in housing.
Following the roadmap of home buying and selling reforms 16% of the 110 respondents to the survey said they were confident that the process was improving and not getting worse.
Commenting on the latest result Stephen Ward, director of strategy and external relations at the CLC, said: “Current market conditions are undeniably challenging, and it remains to be seen whether the Chancellor will intervene, but we have weathered worse storms and what we must not forget is the government’s roadmap of reforms.
“These long-awaited changes will revitalise the market, making a meaningful difference to both consumers and to those working in it, but it needs the support of everyone across the property sector so I urge the industry to embrace the plans and work together to deliver them as swiftly and effectively as possible.”
