Rachel Reeves has announced the stamp duty on second homes will increase by 2% to 5% from tomorrow.

Chancellor Rachel Reeves confirmed that stamp duty rates will rise for those buying a second home in England and Northern Ireland from tomorrow, October 31

Stamp Duty rates will change near-immediately under Labour plans, with the Budget aiming to help first-time buyers and primary home buyers more easily navigate the market

Housing experts said they were 'disappointed' by the decision as Rachel Reeves delivered her Budget

First-time buyers look set to pay thousands more on stamp duty costs after Rachel Reeves opted to steer clear of any tweaks in the budget.

Chancellor Rachel Reeves delivered some major changes to the property sector Labour's first Budget

Buy-to-let investors and second home owners to pay thousands more when they buy properties, as concerns raised that it could lead to higher rents for tenants.

Chancellor Rachel Reeves has announced sweeping changes to NHS funding, cash for transport projects, and £40billion of tax rise. Here The Mirror looks at the all the key points from Labour's first Budget.

Analysts say this could affect landlords' willingness to buy more properties. If the supply of rental properties is squeezed, that could mean rents rise for tenants in the remaining homes.