Downsizing decision a big one

The Times carries several letters in response to a report from the RICS which detailed the role a reluctance to downsize by homeowners has played in the housing shortage. One letter says that property is a popular form of wealth but an apprehension over capital gains tax sees people prefer one larger property over two smaller ones that sees one rented out. Another says that calling on older homeowners to move to smaller property will not work unless the stresses associated with the sale and purchase of property are eased. Another claims that the Conservatives’ decision to remove many main residences from inheritance tax will encourage older owners to hold onto large properties.