Mr Hammond was criticised for his first and last Spring Budget as property professionals claimed it lacked policies to help homebuyers.

Could the Autumn Budget bring changes for the housing market?

“I don’t expect much in the Budget for property,” said Michael Dean, principal at Avamore Capital.

“Some piecemeal, ineffectual housebuilding stimulus at best.”

However, Mark Stephen, founder of Reditum Capital, claimed that the change in stamp duty had greatly impacted the liquidity in the market, penalising those looking to change residence.

“Perhaps they will [move] the stamp duty liability from the buyer to the seller to free up those looking to upsize.

“This will mean they pay stamp duty on the property they are selling, as opposed to the one they are buying.

“It would also not be surprising if they look to reduce or remove stamp duty for older homeowners altogether.

“This would allow them to downsize easier and provide additional housing stock to the market.”

At present, individuals and companies need to pay higher rates of stamp duty land tax (SDLT) if they’re buying an additional residential property for more than £40,000.

Meanwhile, if people sell their main home after they purchase their new home, homebuyers would have to pay the higher rate, but a refund can be claimed if the old home is sold within three years of the new home being bought.

What does the specialist finance industry want to see announced in the Autumn Budget?

Jonathan Sealey, CEO of Hope Capital, felt it would be good for the chancellor to realise that the additional stamp duty was having a detrimental effect on property investors, demonstrated by a drop in buy-to-let purchases.

“The government is gaining so much extra income, however, I do not feel that this will be rescinded any time soon.

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“With pressure to rescind the public sector pay cap, there is the possibility that taxes will rise in some guise – although it is unlikely to be the obvious headline rates of income tax or VAT.

“As usual, the devil will be in the detail and may well include cuts in tax breaks, as well as hidden taxes on things that are less likely to hit the headlines.”

Alexander Moss, operations director at Zorin Finance, felt the industry was eager to see some more meaningful reforms made to stamp duty.

“There is an argument to be made for revising rate bands to be specific to different regions, as currently those in the less affordable regions of the South East and London already spend a larger amount of their income on housing costs, and so shouldn’t be doubly hit by having to pay higher SDLT as well.

“Shifting the SDLT liability on to sellers rather than buyers would do a lot to help first-time buyers get on the ladder, while also lessening the burden of those upsizing to larger homes.”

Alex also felt that it made sense for stamp duty to be paid in instalments and settled once a property was sold, rather than in one lump sum.

“It’s essential for the government to remove the 3% stamp duty for older homeowners, which would encourage people to downsize and free up homes for younger families,” added Katy Katani of Zorin.

“It would also help more first-time buyers to get on the property ladder, which is a growing issue.”

Away from stamp duty changes, Liam Brooke, co-founder of Lendy, wanted to see greater support for developers.

“We would like to see a broader review of Section 106 agreements, which is the money developers pay to local authorities in exchange for planning permission.

“Smaller developers simply don’t have the leverage in negotiation that bigger developers do, and an overhaul of the system could help them considerably.”

Liam added that a review of the policy regarding the green belt would also be welcomed, as there were sizeable parcels of land that were not green or of environmental value.

“But there are also plenty of more radical solutions that could be considered, such as paying the legal costs of developers who are unreasonably forced to appeal to get planning permission, or incentives for older people to downsize and get their properties back on the market.”