What the Autumn Statement could mean for the property market

At least by looking to tax assets more than people’s pay we would incentivise work. It would also make owning property a little less appetising for investors, and thus level the playing field that little bit more.So what would I like to see Mr Hunt announce this week?First, I’d like to see him make moves on Stamp Duty. This is a £12billion cash cow that needs reform. Cash buyers currently pay an additional three percent rate, this should be increased to 3.5 percent or even four percent.It would not be enough to deter any but the flakiest buyer, and the additional amount could help fund cuts elsewhere. Why should a pensioner selling a larger family home pay £5000 in tax to move downmarket? It discourages house sales and blocks supply and should be scrappedSecond, I’d like to see Mr Hunt increase Capital Gains Tax (CGT). In effect, this is a tax on unearned income which is currently at a rate of 10 percent to 28 percent on profits.Somebody who bought an investment property years ago has seen such massive growth in value, surely they could lose a percent or two more?READ MORE: House prices reach new high of £371,158 – how Sunak could prevent ‘dramatic fall’