Talking Heads: Prime property industry reactions to the Budget 2025 - Prime Resi

I expect that buyers will immediately price in the new tax

Jon Byers, founder of London estate agency Anderson Rose 

“Markets do not like uncertainty, so we are always glad to have the Budget behind us. The property market will adapt to this Budget just like it always does and in this case I expect that buyers will immediately price in the new tax.

“At this moment, it is unclear how and how often homes will be valued to determine whether Mansion Tax should be applied. It is likely to cause the property rich – cash poor homeowners to sell, and there are quite a few of them, so I expect the top end of the market to be in good supply. There may also be a lack of demand for homes that fall into the mansion tax band and a shorter supply of homes under it as people are more likely to “love it” than “list it”.

Demand for builders to do loft conversions and extensions will remain very high, thanks to this!”

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