11,462 homes in London facing the Mansion Tax

  • 23 Oct 2014

the mansion tax trap - are you in?

Infographic oabout the 11,462 homes in London facing the Mansion Tax

Rising house prices in London over the past decade have turned a record number of homeowners in the capital into property millionaires. As our infographic shows, there are 11,462 homes in London worth more than andpound;2m. But instead of toasting their good fortune, Londons property multimillionaires face paying a mansion tax if Labour wins power after next years General Election.

Leader Ed Miliband announced the policy at his partys annual conference and in mid-October shadow chancellor Ed Balls revealed that middle-class families will be prevented from deferring the mansion tax _if they earn more than andpound;42,000.

Our infographic shows how many houses in each London borough will pay the mansion tax, which Labour says will raise andpound;1.2bn to fund extra NHS staff. While it should come as no surprise that Westminster and neighbouring Kensington and Chelsea top the list of boroughs with the highest number of andpound;2m-plus properties, it is interesting to note that Londons property boom means areas not normally associated with wealth, such as Croydon and Tower Hamlets, also have properties that pass the mansion tax threshold.

Even if your home isnt yet worth andpound;2m or more, according to the Land Registry, the figures on our infographic showing the percentage increase in property values in each London borough over the past decade will help you work out whether your house will hit the andpound;2m mark any time soon.

Leave a Reply

More articles

GEZE

Extra Safety for Extra Care with GEZE in Kent

Extra safety has been incorporated into an extra care housing development for over 55s, courtesy of a GEZE UK natural smoke ventilation system.

Posted in Architectural Ironmongery, Articles, Building Industry News, Building Products & Structures, Building Services, Case Studies, Doors, Health & Safety, Heating, Ventilation and Air Conditioning - HVAC, Posts, Retrofit & Renovation, Security and Fire Protection, Windows

What to expect from Schlüter at Hard Surfaces 2019

Schlüter-Systems Ltd has announced that it will exhibit at this year’s Hard Surfaces Show.

Posted in Articles, Building Industry Events, Building Industry News, Exhibitions and Conferences, news, Posts

ROCKWOOL wins SIG Supplier of the Year award

ROCKWOOL has been awarded the coveted Supplier of the Year title by SIG, distributor of insulation, dry lining and related products.

Posted in Articles, Awards, Building Industry Events, Building Industry News, Building Products & Structures, Insulation, news

Aggregate Industries’ SuperCurve chosen to resurface Port of Liverpool

Aggregate Industries’ new SuperCurve asphalt solution has demonstrated its ability to withstand high-levels of HGV traffic during a recent resurfacing project.

Posted in Articles, Building Industry News, Building Products & Structures, Civil Engineering, Hard Landscaping & Walkways, Landscaping, Posts, Retrofit & Renovation, Sustainability & Energy Efficiency