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‘Mansion Miliband' tops political property stakes

26th March 2015

  • By his own definition, Miliband only party leader to own and live in a ‘mansion’
  • Labour chief lives in most expensive house of leaders, valued at over £2.7m
  • Would be only party leader currently required to pay proposed Mansion Tax

According to the latest research by property website Zoopla, Labour leader Ed Miliband is the only main UK political party leader who owns and lives in a ‘mansion’, according to his party’s definition, based on the proposed Mansion Tax for properties valued at over £2m.

Miliband’s North London home is now worth £2.73m, more than three times the average in the area, according to Zoopla. Both Prime Minister David Cameron’s West London home and Nick Clegg’s South London pad fall just short of the threshold applicable to the controversial new proposed tax, valued at £1.97m and £1.89m respectively. UKIP chief Nigel Farage’s Kent abode is currently valued at a more modest £550,000.

Each leader has seen the value of their home grow substantially since the last election, like most homeowners across the country. Miliband has seen the value of his home increase by a staggering £1m since the Conservative/Lib Dem coalition came to power, despite his apparent distaste for their economic policies. Cameron’s home has risen by £671,000 in value and Clegg’s by £573,000 during the same period.

As things currently stand, Miliband would be the only current party leader required to pay the annual Mansion Tax mooted by the Labour party on properties worth in excess of £2m, although house price rises could also soon nudge Cameron and Clegg into this territory.

Lawrence Hall of Zoopla commented: “Soulless second kitchen or not, Ed Miliband’s home is in a desirable part of London and is now worth a lot more than he paid for it before the last election. He may, however, have to put any plans for upgrading his kitchens on hold if Labour comes to power as his tax bill is likely to rise by at least £3,000 per year.”

Politician Property location Current Value Value vs. avg. UK home Value increase since last election
Ed Miliband North London £2,728,131 10.3 x £1,041,262
David Cameron West London £1,971,045 7.5 x £671,289
Nick Clegg South London £1,894,973 7.2 x £573,256
Nigel Farage Kent £549,294 2.1 x £103,730

- Ends -

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But we know you're looking for more than that.

Because that first flat won't just be a 'great investment opportunity'.

It'll be the feeling of starting out on your own.

That extra bedroom won't just mean another £20K on the re-sale price, it'll mean having your sister over to stay.

And that bungalow won't just be a way to release some equity, it will be a chance to spend more time with the grandkids.

We know that searching for a home is about more than just checking its price, location and features (important as all those things are).

What really matters is how it makes you feel.

We know what a home is really worth.

So let us help you find yours.

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