UK considers new property taxes on expensive homes, sparking debate on market impact.

UK Chancellor Rachel Reeves is considering replacing stamp duty with a new property tax on homes over £500,000 and possibly a mansion tax on homes over £1.5m. Rightmove warns of potential market impacts, while Barclays and NatWest have streamlined mortgage processes and reduced rates, respectively. Critics argue these tax changes could harm mobility and affordability, while experts suggest they may not raise expected revenue and could face political backlash.