What will Autumn Statement tax do to house prices?

In his Autumn Statement, George Osborne announced that he would introduce a tax for people who live overseas and own a second property in the UK. It's a capital gains tax (CGT) charge, so it will be payable when they sell up, on any profit that they make from owning the home. The idea is to level the playing field with UK buyers, who already have to pay CGT on any profits on a second home.

So will there be a sudden outpouring of foreign owners, and a house price collapse?


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