21
Sep
Homeowners should not be "penalised"
Following calls from the Lib Democrats to introduce a housing tax,
one industry commentator has claimed that people should not be
penalised for owning a property.
Ed Mead, director at independent London estate agent Douglas and
Gordon, said that although the plan is a "pretty clever" way of
raising finances, the tax could make a "significant difference" to
top-end property buyers.
His comments follow the announcement of a Lib Dem proposal which
would see owners of properties worth more than £1 million
taxed using a 0.5 per cent levy which would be employed to lift
low-paid workers out of taxation.
"My initial instinctive reaction as an estate agent is that that is
going to have a fairly serious negative effect on the top-end of
the market in London," stated Mr Mead.
He added that many people would attempt to "fudge" their way around
the levy rather than being "clobbered" by the tax.
