Agree with your points, but if capital gains taxes were phased in and ratcheted upwards, and the tax is deductible if people are using their gains to purchase a similar value UK property, I don't see hysterisis being a major problem. I'd actually be more worried about avoiding inducing a selling frenzy and crashing prices in the short term.

Offshore registered properties without named beneficial owners are only a problem if you allow UK freeholds to be held by shady foreign entities and don't have an especially punitive tax regime just for them.

Council tax style systems suffer from property owners (particularly private householders) often not having disposable cashflow remotely comparable to the value of a house they might have acquired many years ago, especially pensioners and especially in London. (whilst I'm sure in practice, private sector equity share schemes wouldn't be too unhappy to lend the house-rich the cash, I can't see council taxes as aggressive as hypothtetical capital gains taxes being politically possible)