-
But that's just assuming you should just be able to buy another more expensive property based solely on the fact your property has increased in value, rather than the fact you've earned more money elsewhere or are able to get a bigger mortgage
This is exactly what we need to get away from. It's not sustainable to have a property industry based around expecting price rises to be able to afford the home you need for your family. It's bullshit and pretty much something people feel entitled to now days.
Stonehedge-
This doesn’t make sense though. If property prices all go up, it doesn’t make it easier to buy a new property because the next step up is more expensive as well. It only benefits (1) mortgage availability, as you have more equity - that’s helpful but doesn’t help with prices going up; or (2) people who are trading down so the gains cover the new place.
I agree we need to attenuate price rises and have argued for CGT on houses myself, so not saying its an awful idea - but i think there are real issues which would need to be fixed, and it is hard to see if it really ends up in that different a place to where we are now given SDLT does a similar role economically.
andyfallsoff
But that's just assuming you should just be able to buy another more expensive property based solely on the fact your property has increased in value, rather than the fact you've earned more money elsewhere or are able to get a bigger mortgage.