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Four years after first being proposed, details of a possible mansion tax remain surrounded by uncertainty. Liam Bailey, Knight Frank’s Global Head of residential research, says it is time to cut through the guesswork and provide some clarity on its likely impact.
What do mansions look like, and where do you find them?
As Stephen Williams MP notes on the opposite page, there are parts of the UK where a £2m property could be fairly described as a mansion. However in many areas, especially those where most £2m properties are located, they can be anything but. In the following graphic we confirm the distribution of £2m+ properties, by size, type and location.