Surge in larger homes for sale amid capital gains tax fears, Rightmove says

Speculation Rachel Reeves to raise tax in budget thought one reason for some homeowners cashing out

Growing speculation about a capital gains tax (CGT) raid in October's budget appears to have prompted a surge in the number of larger homes being put up for sale, the UK's biggest property website says.

Rightmove said in the week ending 9 September there had been a flurry of activity at the top end" of the market. The number of larger homes - defined as four-bedroom detached houses and all five-bedroom and larger properties - being listed for sale in Great Britain was 15% more than in the same period last year. And in the east and south-west of England, which include some of the UK's most popular coastal and countryside hotspots, the percentage was over 20%.