Conservative leader Kemi Badenoch promised that stamp duty should be lifted if the party returns to power in the next election.
“Our housing market is not working properly,” Badnock said in a speech at a party meeting in Manchester.
“The next conservative government will abolish stamp duty.”
“Stamp duty is bad taxes. We must free up our housing market because a society that no one can afford or move is a society where social mobility dies.”
Stamp duty is a controversial tax that is widely regarded by industry and economists as a tax that restricts home action and home construction.
Currently, home buyers in England and Northern Ireland must pay stamp duty on properties worth more than £125,000. For first-time buyers, the threshold is £300,000.
The tax raised £11.6 billion last year, according to government data.
But Tom Clougherty, executive director of the right-leaning Institute for Economic Affairs, said: “The abolition of stamp duty is the best reform any government can make to the UK tax system.
“As things do, this outdated and uneconomic taxation is wreaking havoc on our already troubled housing market by blocking sales and repressed home construction.
“Indeed, research shows that the broader social and economic harm is equivalent to three-quarters of the increased income – and that is a loss to people who actually pay taxes.”
Last year, the Left-leaning Institute of Finance called stamp duty “our worst and most harmful taxes.”
The body added that stamp duties applicable to landlords are delivered only at “higher rent.”
