The Lawyer: The mansion tax proposals from Labour and the Liberal Democrats will hit double the number of homes than previously expected, according to new research from Knight Frank. The property consultant said that house-price inflation in central London meant that properties that were valued at £1.2m in 2009 would now be in the scope of the proposed tax. Nearly 70 per cent of the properties valued at more than £2m are located in London. Knight Frank explained that if the £2m threshold mooted in 2009 had increased in line with house-price inflation, it would now be at £2.8m. In the most expensive areas of London, such as Kensington & Chelsea, the threshold would have to be raised to £3.2m to cover the same number of properties.
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