London housing crisis could be fixed by scrapping stamp duty and council tax, think tank says

House prices in London have risen by 200 per cent since 2002 (Yui Mok/PA Archive) - (PA Archive)

London’s housing crisis could be resolved by replacing stamp duty with a new property wealth tax, a think tank has said.

A report by the Centre for London suggested the annual tax to replace stamp duty and council tax would encourage downsizing and could help renters to save for a house deposit.