People living in London and the South East are the least supportive of a single annual property tax, according to new research.
A survey of 2,203 UK adults, commissioned by estate agency Cavendish, asked respondents whether they supported replacing council tax and stamp duty with an annual tax based on the value of a property – a proposal similar to one reportedly being explored by prime minister Andy Burnham.
The research found support was strongest in northern England and Wales, while opposition was highest in areas with the country’s most expensive housing.
Support reached 37% in the North East and 35% in the North West, compared with 28% in London and just 23% in the South East. Wales also recorded relatively high support, with a third (33%) backing the proposal.
The North West and Wales recorded the highest proportion of respondents who strongly supported the idea, at 16%, compared with just 7% in both London and the South East.
By contrast, outright opposition was strongest in London and the South East, where 16% of respondents strongly opposed the proposal, compared with 10% in the North West.
The research also found that many people have yet to form an opinion on the issue. Nationally, 37% of respondents said they did not know whether they supported or opposed replacing the existing system with an annual property tax.
Simon Leadbetter, founder of The Voice of the Agent and marketing adviser to Cavendish, said: “The regional differences are striking. Although this survey wasn’t designed to explain why people hold these views, the pattern mirrors regional house prices.”
David Adams, managing director of Cavendish, said the large proportion of undecided respondents suggested the debate over property tax reform was still at an early stage.
“What is most significant is that more than a third of people still don’t know what they think. That suggests the debate is still in its infancy, and many homeowners will be urgently seeking more information so they can work out the potential financial costs to them.”
