London housing crisis could be fixed by scrapping stamp duty and council tax, thinktank says
A think tank has proposed that London's housing crisis could be alleviated by replacing stamp duty and council tax with a new property wealth tax. This new tax would encourage downsizing and help renters save for deposits, while also funding social housing. The report highlights worsening housing inequality and suggests that the proposed changes could lead to the creation of 106,000 affordable homes over the next decade.
- ▪House prices in London have increased by over 200 percent since 2002.
- ▪The proposed property wealth tax would be calculated as a percentage of the home's value.
- ▪The Centre for London believes that the new tax could help address the growing housing inequality in the city.
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NewsUKHome NewsLondon housing crisis could be fixed by scrapping stamp duty and council tax, think tank saysA record number of Londoners are living in temporary accommodation as house prices soar to 12 times earnings Holly Evans Wednesday 20 May 2026 12:35 BSTBookmarkCommentsGo to commentsBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","removeBookmark":"Remove bookmark"},"showComments":true,"showBookmark":true,"articleId":"b2980200","articleMeta":{"url":"https://www.independent.co.uk/news/uk/home-news/london-housing-crisis-stamp-duty-council-tax-b2980200.html","title":"Scrap stamp duty to fix London housing crisis, think tank says"}}open image in…
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