In the state's eyes, smoking and homebuying are equally vicious

Thrugelmir

westernpromise wrote: »

And if it’s not, why is the tax so high?

Turning the question around. People are happy to pay it. So must have the money. Treasury has to raise taxes from somewhere. Equitable it's paid by those who can afford to do so.

cells

Generali wrote: »

Interesting that you don't consider that an OO would buy.

its unlikely, Hackney has been about 80% renters for as long as I can remember. The area is dominated by social stock and then private rentals and then owners. And that is on a borough basis if you sub divide further into areas within the borough im sure there would be areas that are 95%+ renters.

it also makes logistical sense for inner London to be renters rather than owners and that is the case. Owners typically have 1-2 workers per home while renters can often have 3-4

Also of course most of the universities are in zone 1 and zone 2 again leading to a need for more rental properties in inner London than outer.

westernpromise

Thrugelmir wrote: »

People are happy to pay it.

The collapse in transaction volumes and stock, and the decline in central London prices, suggests otherwise.