Taxing Times: A Fairer Deal for Future Generations

This report for the Fairer Share campaign group considers how many homes would be released as a result of increased transactions brought about by a move to a proportional property tax, set at 0.48% of a home’s existing value. It calculates that a change in the way property is taxed would result in 595,000 homes released throughout England within 5 years:

● The removal of stamp duty would lead to a significant increase in transactions with as many as 315,000 properties freed up
● The additional tax burden for second home owners could see 135,000 homes released as primary residences
● 55,000 homes currently sitting empty could be made available
● An estimated 90,000 homes with planning permission would be built

The analysis shows that 76% of households in England would be better off as a result of a proportional property tax, and it would help younger generations get on the housing ladder, freeing up homes for first time buyers and young families.

You can read the report in full here.

Published September 2021