According to the latest figures, there are a now a record number of million pound properties for sale. UK homes valued at more than ã1m now make up 3.5 per cent of property transactions, which some in the industry argue may threaten the introduction of the Lib Demââ¬â¢s mansion tax.
One in 29 homes top the million pound mark, revealed Property Wire this week. Buckinghamshire is now one of the more expensive regions in the UK, where 47 per cent of the homes on the market are listed for over ã1m.
Given such a high number of million pound properties for sale, UK homeowners may not take kindly to the Liberal Democratsââ¬â¢ pledge to establish a ââ¬Åmansion taxââ¬Â, suggests The Telegraph, as it would affect an increasing number of residents.
Despite these claims, the mansion tax has a proposed threshold of ã2m. The average property price in the UK is currently 233,139 ââ¬â the mansion tax is therefore not expected to affect an overwhelming majority of homeowners.
Speaking at the Lib Dem conference this week, Vince Cable commented:
"In the coalition agreement we promised to put fairness at the heart of all we do as we rebuild our broken economy from the rubble. Liberal Democrats know that you can't do one without the other."
With an increasing number of property buyers considering expensive houses for sale, UK investors will be paying close attention to the Lib Dem conference this week.
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