Andy Burnham became the UK’s new Prime Minister in July 2026 and polls have suggested a ‘Burnham Bounce’.

We look at how he might influence the commercial property markets.

• Reduced Business Rates costs for High Street shops if he raises the lower thresholds.
• A 20% cut in business rates for pubs and music venues.
• This would be paid for it is proposed by increasing taxation on out of town warehouses and online retailers.

There has also been speculation about:

• Replacement of Stamp Duty Land Tax (SDLT) and Council Tax with an annual property tax based on a properties value.
• This has however been ruled out for the October 2026 budget.
• Whether this will be implemented on commercial property remains to be seen, which could be a lot more complicated as it is not just sales but rentals, developments, properties held in portfolios and much more to consider.

The first budget in October 2026 will provide us with more certainty as to what, if any, new initiatives the new government will look to implement.