13th Annual Demographia International Housing Affordability Survey, 2017, available at http://www.demographia.com/dhi.pdf
HM Treasury, 2016, Consultation outcome—Higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties
International Monetary Fund, Article IV Consultation—Staff Report and Selected Issues Paper for Australia, Hong Kong SAR, New Zealand, Singapore and United Kingdom, Various years (Washington: International Monetary Fund)
Websites of the Australian Prudential Regulation Authority, Bank of England, Hong Kong Monetary Authority, Monetary Authority of Singapore and Reserve Bank of New Zealand.
Prepared by Zsofia Arvai (MCM) and Yulia Ustyugova (WHD).
Consultation outcome on Higher rates of Stamp Duty Land Tax on purchases of additional properties
While house prices have risen more quickly than median incomes, all-time low mortgage interest rates have reduced debt servicing costs.
See details at the following website:
Such a drastic decline may also reflect the impact of the economic slowdown in China.
See the chapter on “Macroprudential Tools at Work in Canada” for an empirical analysis of the effectiveness of individual macroprudential policy measures implemented in Canada and of the overall effectiveness of different prudential-based tools for a wider set of advanced and emerging countries.