A report seems to suggest it's true. If true, it will frustrate many people, myself included.  

It seems that Reeves has finally understood that many people with second homes will simply delay selling their properties if they have not sold them before the October budget. An increase in CGT will more likely cause a loss of revenue, not an increase. And slow property sales.

As I noted above, this apparent flip-and-flop approach is frustrating. Many have or are in the process of selling property to avoid a significant increase. This includes many landlords, who are removing much-needed rental property from the market as a result.  Now it seems that may have been hasty.  How can you blame people for trying to save, though!

Currently, the CGT rate for selling a second property is 24%; the Conservatives reduced it from 28%. Reducing the rate was intended to increase property sales and raise a further £700m. Initially, it's expected to result in a short-term loss of £70m in 2023-24, then £310m in 2024-25, and £350m in 2025-26. So it does seem to be working.   

More recently, it has been suggested that labour could increase it to as high as 39%.  Time will tell, but it appears likely that the current rates will be left as is.