"If it was only applicable to new builds going forwards it would...

"If it was only applicable to new builds going forwards it would incentivise the increase of housing supply from the private sector."


Agree.

Plus growing the workforce, boosting building supply companies, white good sellers, carpets, curtains, fences, landscapes The list goes on.

Every single business and worker involved in the building industry will benefit. Instead of how we currently have just a real estate agent and a settlement agent swapping bits of paper.
Cries that the rentals will dry up is nonsense......................those houses are not going to sit there vacant. The landlord will rent them out. It won't drive up rental prices because the combination of old and new properties will find the market level.