Andy Burnham's suggestion that England's property tax system be fundamentally reformed has landed at precisely the wrong moment for a housing market still finding its feet after three years of volatility. The Greater Manchester mayor's intervention, understood to include options ranging from a proportional property tax replacing stamp duty to a revaluation-based council tax overhaul, has prompted estate agents and industry bodies to warn that even the mooting of such changes could freeze transactions across the country. This is not a theoretical concern. UK property markets have repeatedly demonstrated how sensitive buyer and seller behaviour is to anticipated tax changes, and the mere possibility of reform tends to do as much damage as the reform itself.