Reeves' Council Tax Surcharge 'throws a spanner into the works of the housing market for not much in return'

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Following a Budget 'where politics trumped economics', Tom Bill of Knight Frank questions how much the new tax on £2mn+ homes will yield.

Written by

Tom Bill

Head of UK Residential Research at Knight Frank

Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.

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Views

Veteran agency boss skewers Westminster’s 'Keystone Cops' moment, says months of leaks caused far more harm than the measures themselves, and predicts an avalanche of exchanges before Christmas.
News

Office for Budget Responsibility report published early 'in error' - including details of a new Council Tax surcharge on high-value homes.
Feature

A Council Tax surcharge for high-value homes is 'probably the least worst outcome for owners of prime property', comments Savills, but our pundits are less sanguine about changes to landlords' income…