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.
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A rare opportunity to own a family home on Vanbrugh Terrace, one of London's finest streetsThis six-bedroom Victorian home sits right on the start line of the London Marathon, with easy access to Blackheath and Greenwich Park.
