Westminster Feels It First: Prime London's Tax Reckoning Begins

This week the property-tax debate stopped being theoretical and started showing up in prices.

Reports put a £247,000 fall on Westminster values as the market absorbs the proposed High Value Property Surcharge — the £800-a-year homes tax — plus talk of a land value tax to replace council tax and stamp duty. Green Street News confirmed prime London is now around 25% below peak, with two-thirds of luxury schemes since 2012 still unsold. The Financial Times found overpriced homes take four times longer to sell, and mortgage rates hit an eleven-month high.

All six stories are in this week's Tuesday News Bulletin. Email ask@londonproperty.co.uk if you have any property comments or questions. 

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