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Which London properties would pay mansion tax?

There are 11,462 homes in London worth more than £2m, which could face mansion tax if the bill is passed.

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Rising house prices in London over the past decade have turned a record number of homeowners in the capital into property millionaires.

Labour leader Ed Miliband said that owners of properties worth more than £2m would face an annual charge. New research by Property Division, the property investment news hub, reveals that 11,462 London properties would face this proposed tax.

While it comes as no surprise that Westminster and neighbouring Kensington and Chelsea are top of the list when it comes to boroughs with the highest number of £2m-plus properties, it is interesting to note that London’s property boom means areas not normally associated with wealth, such as Croydon and Tower Hamlets, also have properties that pass the mansion tax threshold.

11,462 London Homes Face Mansion Tax - Inforgraphic

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Agnes Stamp

Agnes has worked for Country Life in various guises — across print, digital and specialist editorial projects — before finally finding her spiritual home on the Features Desk. A graduate of Central St. Martins College of Art & Design she has worked on luxury titles including GQ and Wallpaper* and has written for Condé Nast Contract Publishing, Horse & Hound, Esquire and The Independent on Sunday. She is currently writing a book about dogs, due to be published by Rizzoli New York in September 2025.