Location, Taxation, Location: What would a mansion tax do to the prime property market?
Savills’ Head of UK Residential Research Lucian Cook grasps the political hot potato, assessing the potential impact of a mansion tax on the prime housing markets of the UK....
May 22, 2013
Savills’ Head of UK Residential Research Lucian Cook grasps the political hot potato, assessing the potential impact of a mansion tax on the prime housing markets of the UK.
The taxation of high value property has been one of the key topics of discussion within the prime housing markets over the past two years, despite the fact it has been ruled out under a Conservative government.
While it is difficult to be sure whether it is just political posturing, the recent announcement that Labour now favours a mansion tax warrants a more detailed look at the impact which it would have on the prime housing markets of London and the South East.
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This article was originally published in Savills’ Residential Property Focus. Read the full report here: savills.co.uk/focus
Lucian Cook is a head of Savills’ UK Residential Research department.
He is one of the UK’s leading and most quoted commentators on the UK housing market, edits The Residential Property Focus and has written extensively on the prime housing markets, proposals for the reform of the taxation of high value property, the demand for private rented housing and opportunities for institutional investment in the residential sector. He joined Savills’ research department in 2006 and is jointly responsible for formulating and presenting Savills views on the residential property and development land markets to a range of clients and journalists. He provides consultancy advice to landowners, developers, housebuilders and investors.
Cook joined Savills in 1993 after completing a degree in Land Economy at the University of Cambridge. He qualified as a Chartered Surveyor in 1995. As a practising surveyor specialised in the provision of valuation advice for taxation, loan security and dispute resolution purposes and strategic management advice for a range of private and institutional clients.