Monday, Jul 17, 2006

Are we importing house price inflation?

South China Morning Post: HK buyers face demands for UK capital gains tax

The British government ought to consider making Hong Kong investors pay capital gains tax, Britain's first-time buyers have demanded. Those Britons struggling to get their foot on to the property ladder have been angered by a wave of overseas investment that has helped to push up prices in some parts of the country, most notably London.

Posted by PricedOut.org.uk @ 10:24 PM (570 views)
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1. uncle tom said...

I suspect that if you factor out the overseas influence and last year's buoyant bonus season (which does not look likely to be repeated) in London, and the last ripples of the bow wave that is still propelling prices in the furthest flung corners of the land, the true level of HPI is pretty well zilch.

Certainly where I live (south of Cambridge) prices have been static for a long time now, and are showing signs of slippage.

This puts the focus on MEW - which has been supporting the economy to the tune of around 50bn p.a.

A lot of MEW-ers must now be close to 'maxing out' - so will they switch to unsecured debt, or reign in their spending?

The first option will buy a little time, the second threatens 2 million jobs...

Monday, July 17, 2006 10:10AM Report Comment
 

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