Meanwhile, estate agents and mortgage experts are urging buyers to continue with house purchases as normal — or at least not to put off applying for mortgages.

Peter Bolton King, chief executive of the National Association of Estate Agents (NAEA), said: “The problem is that we have no idea what kind of reforms, if any, are on the table at the Treasury.

“The housing market will get worse if people start holding off buying a property in the hope the Chancellor will offer some relief to stamp duty.

"But people run the risk of losing their dream home if the vendors decide they cannot wait for an announcement from the Government.”

David Hollingworth at mortgage broker London & Country said: “Mortgage offers can be valid for between three and six months, depending on the lender, so if there is a deal that you want to snap up now, then it is worth putting the wheels in motion.”

Stamp duty is only payable upon completion of the property purchase — so prospective buyers could consider delaying an exchange of contracts until the issue is finally resolved but continue with the rest of the buying process in the meantime.

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