Sales of the UK’s most expensive homes plummeted in October, new data reveals, as affluent buyers appear deterred by the prospect of a so-called mansion tax in Labour’s upcoming budget.
According to property website Rightmove, agreed sales of homes worth at least £2 million ($2.6 million) fell by 13% compared with the same period last year. This marks the largest decline recorded in 2023.
Bloomberg’s Kit Rees reports that the potential introduction of the mansion tax is influencing buyer sentiment in the high-end property market, contributing to the slowdown in sales of luxury homes.
https://www.bloomberg.com/news/videos/2025-11-17/uk-s-priciest-properties-sales-plummet-ahead-of-budget-video