"Regency Living, a company that sells bungalows, says Google search figures show weekly searches for downsizing have risen by 450 per cent in the past five years. Meanwhile research undertaken by Suffolk Building Society last year estimates that 15 per cent of UK homeowners, some 6.3 million adults, are considering or planning to downsize during the current five-year parliamentary session."
"Mansion tax was widely rumoured in the run-up to 26 November, and it has now been confirmed how residential properties in England worth 2m or more will be impacted. The High Value Council Tax Surcharge comes in from April 2028, with four bands, and the annual charge is on top of the existing council tax. Larger homes and those in the capital could be more exposed."
Interest in downsizing has increased, with Google searches up 450% over five years and Suffolk Building Society estimating 15% of UK homeowners (about 6.3 million adults) are considering or planning to downsize during the current five-year parliamentary session. Downsizing particularly affects the over-50s and can reduce housing costs, lower maintenance time and enable moves closer to family. The 2025 autumn Budget confirmed a High Value Council Tax Surcharge for English properties worth £2m or more, effective April 2028, adding an annual charge on top of existing council tax and increasing exposure for larger homes, especially in London. Current lending conditions and these updates may encourage some homeowners to downsize in 2026.
Read at www.independent.co.uk
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