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Sales of London’s priciest Homes Fall Amid Mansion Tax

by Patrick Gower, April 20th 2015

Sales of London homes worth more than 2 million pounds ($3 million) dropped 34 percent in March from a year earlier as buyers were deterred by the Labour Party’s proposals for a mansion tax.

Sixty-two homes worth more than the 2 million-pound mansion tax threshold were sold in central London during the month, down from 94 a year earlier, luxury property broker Huntly Hooper said in a report Monday. That compares with a 17 percent decline in sales of homes worth less than the threshold.

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