La prospettiva quest'anno di avere una "Mansion Tax" su immobili superiori al valore di 2 milioni di sterline nel caso in cui i laburisti dovessero vincere le prossime elezioni ha giá iniziato a far sentire i suoi effetti a Londra. Il periodo precedente alle elezioni é solitamente un momento di incertezza, che frena gli investitori e in generale rallenta il mercato immobiliare ma si registra per la prima volta da quattro anni uno stallo dei prezzi delle proprietá in zone come Mayfair e Kensington and Chelsea.
The threat of a mansion tax put paid to more than three years of house price rises in London last month as the prospect frightened would-be buyers out of the market. The average cost of a home in the most expensive boroughs of outer London, such as Fulham, dropped by 0.2 per cent last month, the first fall since May 2011, according to Knight Frank. This came after its report this week on prime central London, including Mayfair and Kensington and Chelsea, which showed that price growth had ground to a halt in the same month, after surging by 40 per cent over four years. Knight Frank believes that house price growth in prime outer London will slow to 3 per cent next year, mainly because of the possibility of Labour introducing a mansion tax if it were to win the general election next May. Would-be buyers are understood to be holding off from purchasing properties at about the £2 million mark until after the election. Labour said in September that it would introduce such a tax if it came to power. Savills, also has warned that at the extreme the value of prime London properties over £10 million could fall by 10 per cent as the result of a mansion tax, and that those over £3 million could drop by 7 per cent. It estimates that there are 97,000 homes in Britain worth more than £2 million, most of which are in the capital.