Higher tax bracket reduces the pool of people competing for properties in favour of people who already have money - from wealthy parents or their businesses, if they are lucky or depending how easily they can get a loan (here we have a plague of buy to let loans that let people with some money buy properties left and right) In my opinion housing here is artificially limited as it is over-regulated and you can't simply buy a land and build a house on it. All that combined it makes it accessible only for the rich and if you are from a poor background you are unlikely to join them because of numerous stops put in place.