It's been reckoned that 18 large multi-storey car parks across Mayfair and Marylebone sit on over £1.3 billion worth of prime residential development land.

What the luxury property sector thinks about the abolition of letting agency fees, more money for housebuilding and infrastructure, and no changes to stamp duty

Stamp duty receipts "so far this year have been much weaker than expected" says the OBR