Labour plans and house prices

padington

Ok so we know Labour plans to bring in a 'Mansion tax' and 'double the number of first time buyers'....

What do you think this means will happen to the price of an average house or flat or the market generally? Especially in places like London where there are lots of 'mansions'?

princeofpounds

Not much.

The second thing isn't even a policy, it's just a meaningless assertion.

caronoel

padington wrote: »

Ok so we know Labour plans to being in a 'Mansion tax' and 'double the number of first time buyers'....

What do you think this means will happen to the price of an average house or flat or the market generally? Especially in places like London where there are lots of 'mansions'?

The "mansion tax" is just another crude populist move by Socialists to punish those fortunate enough to have purchased their homes.

Once in, just like Stamp Duty, this £2m thresold will fall and will quickly be applied to the majority of home owners.

Yet another reason not to vote for Milliband

carslet

I don't think anything will happen to house prices in the UK, they have been out of reach for many people for 10 years now.

Sad to think that a professional person can't even afford to buy a place to live in some areas of the country, and also I don't think this recovery is as strong and as good as they are making it out to be.

House prices are far too high, and I am a homeowner

IronWolf

He pledged to have housebuilding at 200k per year by 2020.

It's a pity it comes with new taxes, which start temporary or applying to 'the rich' but soon just become a standard tax on everyone. I am also opposed to any form of asset tax.

Gangaweed

Labour always has plans to increase state spending.

Never do you hear them talk about reducing the size of the state.

They have an addiction to spending other folk's cash.

cells

There is already an annual tax on enveloped homes which is effectively a mansion tax for companies that own homes.

Repeating this for all homes is an interesting policy

cells

House building at 200k a year and only at the end of the next term by 2020 will do nothing to dent HPI. France builds twice that at around 400k a year and has HPI

Thrugelmir

IronWolf wrote: »

He pledged to have housebuilding at 200k per year by 2020.

As with all Ed's pledges. There's no substance to how this will actually be achieved. A conference throwaway. You wouldn't think that there's a General Election next May. Even George is struggling with the deficit reduction. So Labour are going to have come clean soon as to where the money is coming from.

purch

Thrugelmir wrote: »

So Labour are going to have come clean soon as to where the money is coming from.

A Mansion Tax.

Everything 2 beds or over will be taxed at 10% of the made-up value put on it by a local spiv estate agent, every year.

If you have a red front door the rate is reduced to 8%, double garages are taxed at 72% of the value of the house, but if you commute by bike you get a 93.5 % rebate on the lot !!!!

theEnd

Would be amazed if it ever happens.
Why not just add a few bands and increase council tax a bit?

Maybe along side scrapping stamp duty?