Ed Balls, the shadow chancellor, has tried to reassure London homeowners that his plans for a new mansion tax will not hit most of them by saying the threshold could be higher than £2m if house prices continue rising.
Britain’s biggest property website has rebuffed claims that the housing market is heading for a slowdown, with a forecast that prices will soar by 30% over the next five years to average £318,000 in England and Wales and more than £715,000 in London.
A new “mansion tax” has been introduced by Scottish ministers to fund a cut in sales duty on affordable homes.
House prices have fallen for the first time in 17 months, dropping by 0.2% in September and providing new evidence that the property market is cooling, according to the latest update from the UK’s biggest building society.
Ed Miliband is facing resistance from senior Labour MPs in London – including potential candidates to be mayor – to his flagship plan to impose a mansion tax on properties worth more than £2m, as concern grows that it will hit too many people on average or low incomes.
A triplex penthouse at Zeckendorf Development Co.’s tower under construction on Manhattan’s Upper East Side will be offered for sale at $130 million, making it New York’s most expensive apartment listing.
As property prices, particularly in the south-east, expand relentlessly, we look at a growing interest in narrowing houses
Imagine you have £275,000 to spend on a home. It is not a trifling amount – more than the average UK house price and enough to buy a chocolate box cottage with acres of land in Northumberland. Or you could invest in "possibly the smallest house in the world", barely the size of a lock-up garage, in a street in north London.
The number of homes across Britain valued at £1m or more has increased by 49% over the past year, according to figures published on Tuesday.
The spectre of property speculation is stalking Ireland once more, as soaring house prices in Dublin bring warnings that the country is in danger of repeating the mistakes that brought the economy to its knees during the financial crisis.