The Spring Statement proved a missed opportunity for landlords and stamp duty, it has been suggested.

In delivering her Spring Statement today, Rachel Reeves stated that the Government is focused on building new homes.

But she made no reference to the stamp duty holiday that comes to an end on April, or to landlords who are under increasing regulatory and financial pressures. Landlords pay a stamp duty surcharge of 5%.

Stamp duty thresholds

Homes will become more expensive to buy on April 1 amid changes to the current stamp duty thresholds.

The initial threshold currently stands at £250,000, but this halves to £125,000 from the beginning of next month.

Discounts are available for first-time buyers who currently pay no stamp duty up to £425,000 on properties costing up to £625,000.

However, this threshold is lowering to £300,000, with the qualifying price also lowering to £500,000.

Landlords' stamp duty surcharge

Landlords pay a stamp duty surcharge of 5% on these stamp duty rates.

Housing experts said it was disappointing that the stamp duty holiday had not been extended.

Colleen Babcock, of Rightmove, said: “It’s extremely disappointing that the Government has not used the Spring Statement as an opportunity to extend the impending Stamp Duty deadline for those currently going through the home-moving process.

“We estimate over 70,000 buyers are going to miss the deadline and complete in April instead, and a third of those are first-time buyers.

“Given the current challenges faced by first-time buyers, our data shows that a typical first-time buyer in Britain now faces average monthly mortgage payments of £940, a 59% increase compared with £590 per month five years ago. Over that same period rents have increased by 40% across Britain.”

Meanwhile, Mark Harris, of mortgage broker SPF Private Clients, said: “The Chancellor missed an opportunity to boost all-important transactions by extending the stamp duty concession or introducing some discount for downsizers."

Jeremy Leaf, north London estate agent and a former RICS residential chairman, said: “It a little unfair on those who have moved heaven and earth to take advantage of the stamp duty concession before it disappears but who may not make it, through no fault of their own. The deadline could perhaps have been extended for those transactions in solicitors’ hands from the beginning of February as a small respite.”

He went on to call for a broader review into the impact of stamp duty on the market, and how it can become less of a deterrent, particularly for first-time buyers.

He added: “We were sorry not to see anything supporting landlords to stay in the sector because it is not just a question of keeping house prices in check but also rents, which have softened a little lately but are still too high.

Michael Cook, of Leaders Romans Group, said: “There is undoubtedly a long-overdue need for a comprehensive reassessment of Stamp Duty.

“Unfortunately this may have to wait until a future spending review, but in the meantime, I would hope that the Government sets about considering changes to what can be a very damaging tax - one that can cost the Treasury, rather than benefitting it, bearing in mind the unintended consequence of discouraging people to move up the property ladder.”

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