Lootman wrote:robbelg wrote:What might increase supply is x3 or x4 times Council tax on second homes and holiday lets,...
Don't joke about such things. Some US cities have, or are considering, an "empty homes tax". $5,000 a year in extra tax if you own a property but do not live in it and do not rent it out.
Rather hypocritically, I would approve of that. So many places are 'hollowed out' by the preponderance of second homes.
The hypocrisy arises because our holidays are generally in rented cottages..... so in some cases only 'hollowed out' during the winter, but that still means no shop.
It's funny isn't it, that despite the 'unaffordability' of houses, over my lifetime we've gone from two thirds renting to two thirds owning.
The other funny thing is the lack of pre-built housing. Factory built. That surely would make big inroads into the original selling price.
If cars were still built the way houses are built, few people would be able to afford a car.
Although of course those buying new houses must know they're paying over the odds compared to equivalent accommodation in the 'used' market.
Anyway, as to the title of this thread, any peak will be transitory given the level of immigration, the key factor in house price inflation. And totally under govt control.
V8