Won’t introducing property tax make it even harder for first home buyers?

Won’t introducing property tax make it even harder for first home buyers?

Answer

No. While property tax will be an additional cost after purchasing the house, the UBI and tax changes will make accumulating the deposit for the house easier. Introduction of property tax should slow house price appreciation, meaning house prices do not grow by more than the deposit saved every year. Initially with low equity in the house (around 20%) property tax will also be low.

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