‘Tax prompts slowdown in London prime property’ said Knight Frank

An increase in a property levy paid on top-end homes in London and uncertainty over future tax changes saw the lowest price growth in the UK capital’s prime property market in just over six years, a consultancy said yesterday.

Knight Frank’s prime central London index rose just 0.9% last month from a year ago, the lowest annual growth since October 2009.

Britain cut its stamp duty tax, which is paid when a home is bought, for most buyers last December.