Reduce incentives for speculation and house flipping

We will establish an anti-flipping tax on residential properties, requiring properties to be held for at least 12 months.

This will reduce speculative demand in the marketplace and help to cool excessive price growth. Changes in life circumstances due to, for example, pregnancy, death, employment, divorce, or disability will be exempt from this policy. As this tax is introduced rules will be established to ensure that sellers subject to this tax are able to deduct legitimate investments in refurbishment.