Million pound properties in the UK rise as Lib Dems debate mansion tax

According to the latest figures, there are a now a record
number of million pound properties for sale. UK homes valued at more than £1m now make up 3.5 per cent of property transactions, which some in the industry
argue may threaten the introduction of the Lib Dem’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 £1m.

Given such a high number of million pound properties for
sale, UK homeowners may not take kindly to the Liberal Democrats’ pledge to
establish a “mansion tax”, suggests The Telegraph, as it would affect an
increasing number of residents.

Despite these claims, the mansion tax has a proposed
threshold of £2m. The average property price in the UK is currently 233,139 –
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.