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Sales of £10m plus London homes drop by a third as George Osbourne’s tax changes bite

by Kasmira Jefford, February 12th 2016

Sales of London’s priciest homes slumped by a third last year as even the wealthiest investors balked at paying the higher rate of stamp duty introduced by George Osborne’s tax reforms.

The number of super prime properties – those costing £10m or more – fell from 195 in 2014 to 130 last year, down 32 per cent, according to Knight Frank’s analysis of the whole market. The estate agent said its own super-prime transactions fell by 16 per cent over the same period.

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