Copy article

MoneyWeek article: How the mansion tax could hit homes worth below £2m

Journalist: Marc Shoffman, Freelance

ended 14. January 2026

I am writing a piece for MoneyWeek off the back of comments from Jonathan Russell, chief executive of the Valuation Office Agency about valuing homes for the mansion tax.

He told MPs this week that the agency would look at homes worth £1.5m to check they haven't missed anything.

I am keen for comments from mortgage brokers, estate agents on how homeowners are reacting/are likely to react if they own high value properties?

Is the market likely to stall as we approach the introduction of the Mansion Tax in 2028? 

Is there anything people can do to prepare if they are on the border of the threshold, e.g not make any improvments, sell up etc

1 responses from the Newspage community

Copy all

Copy

Editor
Louis MasonVerified
Content and Communications Director at Oportfolio Mortgages
The comments from the VOA are already creating unease among owners of high-value properties, particularly those sitting anywhere near the proposed thresholds. Even without full detail, the prospect of closer scrutiny is enough to make people nervous, especially homeowners who are asset-rich but cash-flow conscious.
In my view, the closer we get to 2028 without clarity, the greater the risk of the market stalling at the top end. Prime and super-prime markets are highly sentiment-driven, and uncertainty around future tax liabilities tends to delay decisions. We’re likely to see some owners hold off on buying, selling or refinancing until they understand how values will be assessed and how often.
For those close to the threshold, behaviour is already becoming more cautious. Some homeowners may delay major improvements that could push them over a valuation line, while others may consider selling earlier than planned to avoid future exposure.