Rightmove has released a new poll showing that 52% of those 2,700 surveyed on its site are in favour of the proposed ‘Mansion Tax’. This tax would apparently be introduced by the Labour Party following a successful 2015 General Election in their favour. Although it would affect fewer than 1 in 100 homes it has proven a divisive subject, as a large number of those properties affected by the tax would be within London where, according to Lawrence Hall of Zoopla, a price £2,000,000 or more can include 3 bedroom family homes.

Around 38% of those who participated in the Rightmove poll felt that the mansion tax would be unfair. Experts from Rightmove and Assetz have offered their suggestions as to why this new tax would be seen as unfair to responders interested in the wider UK property market. Miles Shipside, Director of Rightmove, believes this will have a similar negative effect on sellers’ asking prices as that currently experienced by stamp duty. In his opinion the mansion tax
“…isn’t something that is going to help boost home ownership, and other policies that could be considered are scrapping stamp duty for first-time buyers, and far more wide-reaching commitments to build a lot more houses.”

Assetz CEO Stuart Law feels that such a tax would stifle and burden the London market which would negatively impact its recovery. Law claims that at present
“The UK’s regional cities are beginning to flourish from the London prosperity ripple effect which is great news for local economies.”

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