{"id":1211,"date":"2015-05-08T08:07:45","date_gmt":"2015-05-08T08:07:45","guid":{"rendered":"http:\/\/poseidon-gp.com\/property\/?p=1211"},"modified":"2015-05-08T08:07:45","modified_gmt":"2015-05-08T08:07:45","slug":"general-election-mansion-tax-will-force-up-prices-in-less-wealthy-areas","status":"publish","type":"post","link":"https:\/\/poseidon-gp.com\/property\/general-election-mansion-tax-will-force-up-prices-in-less-wealthy-areas\/","title":{"rendered":"General election: Mansion tax \u2018will force up prices in less wealthy areas\u2019"},"content":{"rendered":"
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Investors will trigger a post-election house price boom as they \u201ctrade down\u201d from central London addresses to escape the most punitive rates of mansion tax, it was forecast today.<\/p>\n<\/div>\n

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Residential areas such as Battersea and Fulham will see values rise in the second half of the year as wealthy buyers shun areas such as Mayfair where the tax rates will be highest, according to agents Douglas & Gordon.<\/p>\n

Executive director Ed Mead said: \u201cIf you look at the lower bands I think most people will say, \u2018Well, it\u2019s an inconvenience but I can just about live with that\u2019. But in the \u00a35 million-plus level a lot of people will rotate out of that and look at investing in the lower mansion tax range instead. And some people living in \u00a35 million-plus homes will have to sell because they won\u2019t be able to afford the mansion tax.\u201d<\/p>\n

Labour has threatened a \u00a33,000-a-year levy for homes worth between \u00a32 million and \u00a33 million and the Lib-Dems \u00a32,000 for homes worth between \u00a32 million and \u00a32.5 million.<\/p>\n

Labour has not revealed the rates for properties worth more than \u00a33 million but research by agents Savills has suggested it would be at least \u00a37,000, rising to \u00a318,000 for homes worth more than \u00a35 million. The Lib-Dems have already said their rate for homes worth between \u00a34 million and \u00a35 million would be \u00a39,000 a year.<\/p>\n

Mr Mead said the underlying attractions of London property to foreign investors will be undiminished whatever the outcome of today\u2019s poll. \u201cExpect a market-driven price rally in the second half of 2015,\u201d he added.<\/p>\n

However, according to research from rival agents Marsh & Parsons, the most prestigious central London neighbourhoods will go up in value most this year. Chief executive Peter Rollings said: \u201cThe outer-prime dark horses of Balham and Brook Green have been putting on the most astonishing performance recently.<\/p>\n

\u201cBut in the long run, the traditional property stalwarts of Kensington, Chelsea and Holland Park are proving they have the stamina to withstand a wider market slowdown.\u201d<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Investors will trigger a post-election house price boom as they \u201ctrade down\u201d from central London addresses to escape the most punitive rates of mansion tax, it was forecast today. Residential areas such as Battersea and Fulham will see values rise in the second half of the year as wealthy buyers shun areas such as Mayfair […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1],"tags":[],"class_list":["post-1211","post","type-post","status-publish","format-standard","hentry","category-news","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-jx","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=1211"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1211\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=1211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=1211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=1211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}