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Prime London Home Prices Drop 4% Amid Tax Speculation

11/3/2025

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Summary

Story summary

Prime London home prices fell 4% over the past year, the steepest decline since February 2021.
Tom Bill of Knight Frank attributes the decline to tax speculation and warns that taxing high-value properties could reduce their availability.
Homeowners brace for a potential 1% tax on properties over £2 million in the upcoming Budget, potentially affecting more than 150,000 properties in England and Wales.

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Story summary

Prime London home prices fell 4% over the past year, the steepest decline since February 2021.
Tom Bill of Knight Frank attributes the decline to tax speculation and warns that taxing high-value properties could reduce their availability.
Homeowners brace for a potential 1% tax on properties over £2 million in the upcoming Budget, potentially affecting more than 150,000 properties in England and Wales.