Main image: PCL
Reeves' Council Tax Surcharge 'throws a spanner into the works of the housing market for not much in return'
Following a Budget 'where politics trumped economics', Tom Bill of Knight Frank questions how much the new tax on £2mn+ homes will yield.
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.
What to read next
Abrahmsohn on the Budget that spooked a market for no reason
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.
Budget 2025: OBR leak confirms ‘mansion tax’ on £2mn+ homes from April 2028
Office for Budget Responsibility report published early 'in error' - including details of a new Council Tax surcharge on high-value homes.
By PrimeResi
Talking Heads: Prime property industry reactions to the Budget 2025
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…
By PrimeResi
Companies in this article
Knight FrankMost read
PCL heavyweight Willis joins Forbes-backed brokerage
EXCLUSIVE: Former Strutt & Parker board member signed up as Founder Partner and MD as Martin Bikhit builds out new UK luxury agency.
Alex Michelin: How driverless cars will reshape the property market
Luxury development chief says driverless revolution could redraw the prime London map.
Arts & Crafts gem on Kensington Palace Gardens reborn as six ‘world-class’ residences
Luxury developer REDD unveils set of super-prime homes following ambitious five-year restoration of Philip Webb-designed landmark.
Time vs Money: Ollie Marshall on the changing calculation for Britain’s wealthy
Top buying agent on the expats who left to preserve their money - but may ultimately return to preserve their time.
Prime London deal volumes pick up as buyers negotiate rather than walk
Latest numbers put transactions 2% above the five-year average - but it’s a very different picture depending on where you look.
Boutique London agency names new MD; opens Fulham office
Landstones has moved into the former Draker space on Fulham Road.
By PrimeResi
Trio of seasoned London agents sign to D&G’s self-employed broker model
Tania Smith, Dinishka Jayasena & Charlie Rosling previously held senior roles with the likes of Foxtons and Winkworth.
By PrimeResi
London Square picked for 133-home Waterloo scheme
Aldar-owned developer takes on resi element of major new health and life sciences quarter.
Enness Global installs new Chief of Staff
Douglas & Gordon veteran joins the HNW finance firm.
By PrimeResi
Harding Green recruits another top Foxtons agent
Sloane Square ops director makes move to self-employed broker model after nearly 17 years with former firm.
LATEST ARTICLES
£12.25mn Chester Square townhouse finds buyer after agency switch
Boutique firm seals super-prime Belgravia deal after two previous agents had marketed the property.
My Property Career: Quickfire Q&A with Knight Frank’s Andrew Groocock
Recruitment guru Barry Collins chats with prime resi industry leaders & entrepreneurs, distilling decades of experience & career highlights into 60 seconds.
Philip Harvey: What’s really driving global wealth flows in 2026?
Property Vision’s senior partner on the return of Dubai expats, the rise of the ‘certainty premium’ and where mobile wealth is heading next.
Property market is ‘edging towards stability’ – RICS
Prices and activity levels continue to decline in most regions, but not as steeply as in previous months.
By PrimeResi
Rightmove heralds bigger-than-usual ‘back-to-school buyer bounce’
Although demand metrics remain below last year's level.
By PrimeResi