“Michael Gove vows to end ‘scourge’ of empty second homes”

Jun 14, 2022 | Housing market

No, higher council tax will not end the ‘scourge’ of second homes nor ’bring life back’ to communities. To paraphrase another (and possibly more effective) Leveller Up, you need to be ‘tough on second homes, tough on the causes of second homes. And the primary causes are City bonuses, which have snuck back in a big way; and the big bucks of private equity, which have made zillionaires of many a bought-out business owner. If you have that much to spend on second, third, and often more homes, extra council tax will deter you no more than the whack of additional stamp duty already payable. Only much more of the tax which dare not speak its name (income) will make a difference. I’d say.

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What’s going to happen to house prices?

What’s going to happen to house prices?

OK, hands up, I’ve consistently said house prices can’t go up, certainly at this rate, forever. And I’ve been consistently wrong. So far. I’ve spoken to two clients this week, one buying, one selling, who’ve had to pay or been paid over the asking price.