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Budget 2025: 'Mansion tax' surcharge set to shake up prime property sector

From April 2028, owners of properties over £2 million face a new annual levy on council tax
File photo of a country home. (Getty Images)
File photo of a country home. (Getty Images)
CoStar News
November 26, 2025 | 3:45 P.M.

The government has zeroed in on the top end of the residential market in today's Budget – its annual fiscal policy address – with the introduction of an annual surcharge that could impact capital flows into England, as well as valuations.

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