Foxtons is expecting property sales to fall to a record low this year, as the London estate agency grapples with higher interest rates and weak consumer confidence. He said 2026 could ‘prove one of the lowest years for London transaction volumes on record’. Andy Burnham has ruled out any immediate changes to the widely criticised property tax at the Autumn Budget. A home mover purchasing a £450,000 property would pay £12,500, while someone buying an £800,000 home would pay £30,000. The London-listed firm said it had undertaken an 'operational review' that included 'right-sizing' and cost savings to try to navigate a market with consistently lower sales volumes.