Why the Covid stamp duty holiday reveals big problems in the housing market

Views

HM Treasury "misjudged" the property market when it introduced the Stamp Duty holiday last year, writes Michael Ball, Professor of Urban and Property Economics at the University of Reading's Henley Business School. "What must have looked superficially to be a wizard policy idea – stimulating the housing market and gaining political bouquets from happy buyers at the same time – has rebounded badly."

Written by

Michael Ball

Professor of Urban and Property Economics, University of Reading at University of Reading

The Journal of Luxury Property. Required reading for prime property professionals.

This content is available only to PrimeResi Members.

If you have a membership login below, otherwise join Prime Resi today for full access to the Journal of Luxury Property.

What to read next

News

"Stronger forces" than the temporary tax break have been at play in the housing market over the last year, says an influential think tank - which argues that the UK's Stamp Duty holidays have been "problematic…
Feature

It's being reported that Friday's "emergency mini-Budget" will feature a cut to Stamp Duty. Is this wise, and what impact might such a move have on the property market and on the wider UK economy?
Feature

A surprisingly mixed set of responses from the property sector, featuring insights from Savills, Knight Frank, Rightmove, Maskells, Cluttons, Jackson-Stops, JLL, Winkworth, Carter Jonas, Chestertons,…