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Homes valued at more than £2 million are significantly less likely to sell than less expensive properties, according to new analysis. The findings come amid concerns about the impact of Labour's planned mansion tax, due to be introduced in April 2028.
Shares in major UK housebuilders experienced significant gains following the government's announcement of the 'Your First Home' initiative. The programme aims to make new-build properties more accessible to first-time buyers with a reduced deposit requirement and government equity loans.
The market for flats in London is experiencing a significant downturn, with a high percentage failing to sell within six months. Factors such as increased mortgage rates, service charges, and building safety concerns are contributing to the slump, impacting owners and the wider housing supply.
Londoners face a significant hit to their property buying power due to increased mortgage rates. Buyers in the capital now need an additional £35,500 for a deposit to afford the same home with identical monthly repayments.
Sales of new homes in London fell to 5,606 in the first half of 2026, a 37% drop on 2025. 4,629 completed units remain unsold, valued at £3.5bn, while 56 developments totalling 3,913 homes have been paused across the capital.
Westerham, a Kent market town of 4,498 residents, provides a 33-minute train to London Bridge from nearby Oxted. It features Chartwell, Winston Churchill’s former home, an annual country fayre, and an average house price of £653,234 over the past year.
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