That's based on past returns. Going forward, I'm not sure I would make that investment. I understood your question that way. I'm sorry if I misunderstood.
Based on past returns, yes, a 1% tax would probably not make much of a difference, but going forward with the increase that's on the horizon in interest rates and the expected and relatively slow growth in household incomes, I don't personally think there is that much more room for house prices to go up. That's just my personal view and it's based on the mismatch that we have seen, or the delinking of house prices with the affordability that average households are seeing.
Again, this is not to be perceived as any type of investment advice....