Savills warns on mansion taxes

Kasmira Jefford
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FEARS of a potential mansion tax if Labour wins the next election is hitting demand for £2m-plus homes, Savills warned yesterday.

In a trading update, the property agency said a recovery in the residential markets outside London had helped to ease the impact of a slowdown in the capital caused by growing uncertainty ahead of next year’s general election.

It said it expected residential markets to remain “somewhat subdued” until the general election in May next year.

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