This has divided property experts in London. They want a workable replacement for stamp duty, but worry a mansion or wealth tax will penalise retirees who have lived in a home that has accrued value dramatically over decades and quash an already sluggish central London market. As with all tax changes, there will be winners and losers, but a flat land or property tax would disproportionally hit London households, especially in areas such as Hackney, where the average cost of a semi-detached house has leapt from £570,470 in 2012 to £1,181,319 now. There are also fears that if a homeowner…
To provide well-rounded coverage and a breadth of insight across various events, we rely on contributions from several staff writers, each bringing their own area of expertise to our publication.
