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Help first time buyers by putting a tax on owning more than one home

Submitted on Tuesday 30th August 2011

Published on Thursday 8th September 2011

Current status: Closed

Closed: Saturday 8th September 2012

Signatures: 12

Tagged with

Tax

Petition Action

Help first time buyers by putting a tax on owning more than one home

Additional Information

An entire generation is being locked out of the property market by high house prices. It has become increasingly difficult for first time buyers to get on the property ladder, partly due to wealthier people buying multiple properties as an investment.
The government should discourage the purchasing of multiple houses by charging VAT (or another suitable tax) on houses bought by people who already own at least one home. This would reduce demand for houses and therefore reduce house prices, so we all have more chance of getting on the property ladder.


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