
Millionaire Exodus Myth: UK Property Market Trends Unveiled
đď¸ The Property Bulletin by London Property â July 2025
This week, Farnaz Fazaipour breaks down the truth behind recent headlines about millionaires fleeing the UK. Despite claims that 9,500 left in 2024, thatâs just 0.3% of the millionaire populationâand much of the data comes from LinkedIn updates, not hard evidence.
đź UBS does forecast a 16% drop in UK millionaires by 2028 and a 25% fall in billionaires since COVID, driven by high taxes, political instability, and the loss of non-dom perks.
đ We also cover:
- Leasehold Reform Act: New rights for leaseholders to fight unfair service charges
- Rent Review Shake-Up: Government proposes banning upwards-only rent reviews in new commercial leases
- First-Time Buyer Boost: Bank of England eases mortgage rules; 36,000 more buyers expected to benefit
- New Mortgage Scheme: Govt to guarantee 95% loans under the "Freedom to Buy" initiative
Plus: Are Labourâs tax plans causing fear among the wealthy? And what does it mean for Londonâs prime property market?
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