🚨 Property Tax Shake-Up on the Horizon? 🚨 Reports suggest the government is considering scrapping Stamp Duty and replacing it with a new annual property tax on homes worth £500,000+. 🔎 On paper this sounds like a “progressive” move, but let’s be real — it’s effectively a tax on London and the South East: 53% of London sales in the last 12 months were £500k+ (vs just 17% nationwide) In prime boroughs like Kensington & Chelsea, 93% of homes are above this threshold The average London home (£561k) would face a bill of ~£330 per year 💡 Industry voices warn this could: Penalise ordinary homeowners in London where £500k is average, not luxury Slow down an already subdued market Create more barriers to moving, at a time when many are choosing to “improve not move” ⚖️ If the government really wants fairness, regional price differences must be factored in — otherwise, this risks being yet another hurdle for London sellers. What do you think — fair reform or another London tax grab?

Posted by Daniel Snow at 2025-09-18 21:25:04 UTC