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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You can’t always rely on the Great British summer — but you can rely on its watchesBritish watchmakers have excelled themselves in recent months — releasing bright and beautiful timepieces that you'll want on your wrist through summer, and beyond.
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Simon Jenkins: 50 years of saving Britain's buildings, from triumphs and disasters to the great country house we bought for £1In 1975, a new organisation was set up with the express aim of saving Britain's most beautiful and historic buildings from the wrecking ball. How has SAVE fared in the 50 years since then far? Simon Jenkins — who was involved as a trustee right from the very start — looks back on half a century of successes... and one or two painful failures.
