Croydon South MP Richard Ottaway has pointed to new research by the Halifax
- that there are fewer first time buyers in the housing market across
London and they are getting older - as evidence of the knock-on effects
of Labour's property stealth taxes.
"This is further proof that Labour's stealth taxes have made it
more difficult to get on the first rung of the housing ladder in Croydon.
Across London, the average deposit required for a first time buyer has
risen by over £20k since Labour were elected. Yet Labour has just
piled a series of new property-related taxes onto current and potential
home owners. No wonder the average age of a first time buyer in London
is now 35".
Mr Ottaway pointed out that the average council tax has risen by three
times the rate of inflation, adding £212 to the average Band D
bill; the abolition of mortgage tax relief has cost most home owners
an estimated £326 in extra tax; and the freezing of stamp duty
thresholds, even though property prices have soared, has meant an extra
£685 in stamp duty for the average first time buyer.
"This £1,200 tax grab is having a direct and worrying effect
on the affordability of owning your own home", Richard Ottaway
said.
"Liberal Democrats are no better. Their plans for a new development
tax and VAT on new homes would make entry into the housing market for
first time buyers even more unaffordable. By contrast, Conservatives
are committed to widening home ownership for all."
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