Increasing taxes for overseas buyers and those investing in properties in tourist hotspots have topped UK homeowners’ housing policy wish lists, research from Market Financial Solutions (MFS) reveals.
The specialist lender commissioned a survey of 1,323 UK adults who own a residential property in the UK.
Homeowners were given a list of potential property policy reforms and asked to say whether they were ‘in favour’ or ‘opposed’ to the policy.
In total, 71% are in favour of raising the minimum quality standards for rental properties, making it the best supported potential policy reform.
Introducing controls or higher taxes on holiday-lets or second homes in tourist hotspots came in second place, with 67% in favour.
Meanwhile, 63% of homeowners believe in scrapping inheritance tax for properties passed on after someone’s death.
Nearly two thirds of respondents (65%) say non-UK residents should pay more stamp duty land tax, but 60% feel it should be removed on properties that have been derelict for more than a year.
Overall, 58% say the government should reform the planning system to make housing development more straightforward, while 48% believe mandatory house building targets should be re-introduced.
Almost half of those surveyed (49%) are in favour of another stamp duty holiday for the next 12 months, but 59% want to see higher stamp duty taxes for landlords and those buying second homes.
At the bottom of the list, just 34% of respondents support scrapping stamp duty land tax in favour of an annual land tax.
MFS Finance chief executive officer Paresh Raja says: “In recent weeks, we have seen political parties begin to posture on housing policy.
“Battle lines are now being drawn ahead of next year’s general election, and already there is a sense both parties will put forward some more radical policies to solving the housing crisis.
“Our research provides timely insight into how they can win the hearts and minds of homeowners.
“Clearly, housebuilding and taxation are key areas that homeowners would like the government to focus on for reform.”
