Sellers slash asking prices in wake of Budget ‘mansion tax' [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
The average asking price fell by 1.8pc between November and December to £358,138, according to Rightmove, which said the drop was larger than usual for this time of year. It follows a similar 1.8pc drop between October and November, when speculation was rife over what taxes the Chancellor would raise. Ms Reeves unveiled details of a so-called mansion tax in her Nov 26 Budget, which will hit properties worth more than £2m with a surcharge of at least £2,500 a year. In its final report for the year, Rightmove said 2025 would end with average asking prices across the country down 0.6pc (£2,059) compared to late 2024, fuelled largely by the impact of Ms Reeves's Budget. Rightmove said a survey of more than 10,000 potential home-movers indicated that nearly a fifth were waiting for the outcome of the Budget to resume their moving plans. Colleen Babcock, from Rightmove, said: “In the second half of 2025, uncertainty caused by rumours of property tax changes in November's Budget s
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