Currently the average house price to earnings ratio is at a record high. It’s becoming nearly impossible for first time buyers to own a house to live. An increase of stamp duty to 20% for all second property purchases could reduce demand for buy-to-let mortgages and second home purchases.
You may be interested in these active petitions
This reduction in demand may bring house prices back within the reach of first time buyers.
Having your own place and no fear of eviction, is necessary for the wellbeing of all individuals.
In the same way the Bank of England targets an annual inflation rate below 2%, the government should target an average house price to earnings ratio below 5.