Rachel Reeves’s mansion tax prompts early market distortion with 83 per cent of offers now under £2million

Labour s planned mansion tax is already influencing behaviour at the top end of the housing market more than two years before it comes into force. New analysis from Hamptons shows in February, 83 per cent of offers made on homes priced within 10 per cent of the £2million threshold were submitted below that level. That marks a sharp increase from 64 per cent recorded in the same month a year earlier. The pattern is also reflected in completed transactions, with sales agreed above £2million