LSE sets out road map to coherent housing policy

Politicians, government departments and the Bank of England should work together to solve the housing crisis, with one solution being to waive stamp duty for over 65s to encourage them to downsize, according to the London School of Economics and Family Building Society.

In the third instalment of reports on resolving housing policy, LSE has today (January 8) launched A Road Map to a Coherent Housing Policy, commissioned by the Family Building Society, which, said co-author professor Christine Whitehead, emeritus professor of housing economics at LSE London, addresses “what we can do now and in the longer term”.

The road map builds on changes to which government and other responsible agencies have already committed and includes “tried-and-tested” measures. It also covers “what needs to be done to help all relevant departments”, Whitehead said.

Removing stamp duty tax for older people would incentivise them to move, according to the road map report, releasing homes for families and benefiting the Treasury through house-related spending.

Speaking at the report’s launch, Whitehead stated that 30% of owner occupiers were over 65. “They consume more housing than any other group.” At the same time, she recognised that the proposal …