Sir, – The re-emergence of “property ladder anxiety” is an unwelcome development. It appears to result from relentless price-hyping by the media, the presence of a wealthy investor class and the limited availability of houses in major cities. A strategic decision needs to be made by Government to encourage an increase in the availability of family homes. A reasonably simple approach would be to reduce capital gains tax from the currently (prohibitive) 33 per cent to 12.5 per cent for a limited period of time (for example, 18 months) on investment properties sold to owner occupiers. This would result in the liberation of many current rental houses to families, and would help level the playing field between cash buyers and those seeking mortgage finance. – Yours, etc,
PATRICK NELIGAN,
Barna, Co Galway.