General · 20 May 2026
London homes could get new property tax
London's housing crisis could see major changes for homeowners and renters, with house prices now around 12 times average earnings. The Centre for London thinktank suggests replacing stamp duty and council tax with an annual property wealth tax. This proposal aims to encourage downsizing, fund social housing, help renters save deposits, and address homelessness costing £5.5m daily.
Reported by Guardian · How we write briefs