Tom Bill: Higher-value property markets see bigger pre-Budget slowdown

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'Stamp duty on sales above £2mn accounted for 22% of the £11.7bn raised last year, which is something the government may want to consider as it puts the finishing touches to its Budget'

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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Main image: London

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Knight Frank's head of UK resi research explains the latest market movements across the prime postcodes, and looks at how things might unfold over the coming weeks.
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Mortgage costs are expected to fall further after the Bank of England’s decision to cut rates last week, but the prospect of tax rises may dampen demand in prime markets, says Knight Frank's UK resi…
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Watch what the government says over the summer and what it does in its first Budget later this year, advises Knight Frank's UK resi research chief.