Shares in Taylor Wimpey PLC (LSE:TW.), Persimmon PLC (LSE:PSN), Barratt Redrow PLC (LSE:BTRW) and Vistry Group PLC (LSE:VTY) fell on Friday on reports stamp duty exemptions would be ended in the upcoming Autumn Budget.
Home buyers will be left paying up to an additional £2,500 in stamp duty as a result of the move to let a temporary hike in the exemption threshold end in March.
This had seen the nil-rate threshold for first-time buyers increase from £300,000 to £450,000 under former prime minister Liz Truss, and from £125,000 to £250,000 for movers.
However, according to The Times, Chancellor Rachel Reeves will not extend the scheme, meaning buyers will go back to paying stamp duty based on the original thresholds.
Some £1.8 billion is expected to be raised by 2030 through the move, which will reportedly be firmed up in the October 30 Budget.
Taylor Wimpey sat among the day’s leading fallers on the FTSE 100, down 2.2%, ahead of the likes of Persimmon, Barratt Redrow and Vistry.