Property Speculation Tax to Prevent Housing Bubble

The government should introduce a property speculation tax to stabilise the market and prevent another housing bubble, according to a new report. Published by think tank the Smith Institute, ‘The Case for a Property Speculation Tax’, which highlights the speculative activity driven in high demand areas by overseas investment, argues that the government urgently needs to consider preventative action to curb excessive volatility in the property market. The report warns that a housing bubble would not only worsen the housing crisis but also threaten the economic recovery. Read more on 24dash.