Paul Smith, A top estate agent, warns that London needs to do something now about it’s housing market or it will lose its youngest and brightest workers. He is concerned that the politicians have be prioritize taxes and scrap stamp duty providing money that they are see now and not making plans for the future. He proposes keeping these young brilliant minds in London by getting rid of the tax for first time home buyer’s. You can read more on his views and how he believes it will affect the current housing market in this article.
Key Takeaways:
- many people feel it’s unfair for first time home buyers to have to pay a large deposit
- Mr.Smith payed 18,250 euros for his first house, but he shortly moved from there and worked to get to the house he really wanted
- 95 percent of the pay for mortgages on houses are at least 14,000 to 25,000 euros in london
“Paul Smith, owner and chief executive of Haart, the UK’s biggest independent estate agent, warns that London will see a brain drain of young workers without drastic action.”