How would a ‘Garden Tax’ from Labour effect the Property Market?
Goodness knows what somebody studying the history of UK politics in one hundred years time ever make out what crazy times we had following the 2016 UK Referendum and the vote to leave the EU, and adding to the index of headlines is Labour with their plans to encourage taxation on gardens.
Now, for the ordinary folk, those of us with the simple house we live in and a garden, be it a patio area just big enough for a few potted plants and a BBQ or some splendid landscaped botanical paradise of a few acres, why should we be taxed? Now, if it was an increased taxation on those holding on to land for investment reasons then yes, I get the idea of taxes or increased taxes.
The fears are that this kind of tax will hinder value of property across the UK and even see the likes of landlords having to further dump stock thus increase vacant housing stock and cheapen house prices further – Though cheaper houses prices is a good thing no? House prices across most parts of the UK are cooling off, if not seeing a fall, with many ‘reduced’ listings being seen on the property portals… A no deal Brexit is still very likely or at least the majority of the voting public who voted to leave know that The Brexit Party and Nigel Farage will make thinks happen should the Conservatives continue to delay things. No deal Brexit along with The Brexit Party = Less illegal immigration and possibly exodus of foreign nationals thus relaxing of pressure on UK housing and cooling of the over valued property market we currently have?
Varied newspapers and social media headlines carried this story recently including a feature on the Daily Mail website who lead with titles including ‘FORCE the sale of vacant land on the cheap’.