Government should bring in annual levy to tedious house price rises,according to the National Institute of Economic and Social ResearchBritain’s housing crisis can only be solved if the government switches to an annual capital gains charge on homes, according to a report. The National Institute of Economic and Social Research (Niesr) warned that prices would continue to rocket, and pricing first-time buyers out of the market,while property was lightly taxed compared with other assets that investors can buy.
Buyers need to find a deposit of £80000 to afford an average domestic, after a 50% rise in prices over the past decade.
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Source: theguardian.com