As if the price of property itself is not enough, the taxes associated with owning a home or commercial property in the UK is worth 4.1 per cent of Britain's economic output.
Meanwhile, in any of the 33 other members of the Organisation for Economic Co-operation and Development (OECD), that figure averages 1.8 per cent, and in some countries it is even lower, with Germany coming in at just 0.9 per cent.
The independent Office for Budget Responsibility estimates that stamp duty alone will could reach a record-breaking £9.4 billion a year by 2018, thanks to the five different rates levied, the highest of which is some seven per cent.
According to the Daily Mail, Alex Morton, from Policy Exchange, said: "No other developed country taxes property more heavily than the UK. Yet rising house prices and falling levels of home ownership have led to many calling for an increase to and and property taxes.
"But these issues will only be solved by genuine reform of the outdated planning system, not a tax raid on people's homes."
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