The Reality of a Mansion Tax: Unworkable, Unfair, Unrealistic.

In my view, a mansion tax would be disastrous for the UK property market, particularly in the £2 million to £5 million range that underpins much of the country’s prime housing sector. These are often long held family homes, and their owners tend to be asset rich rather than cash rich. An annual 1 per cent levy above £2 million would not only add an unnecessary financial burden but would also distort natural pricing across the market.