Gulf capital London

One in seven UK households now holds a net worth of £1 million or more — mostly locked in property and pensions. That makes a wealth tax on paper value a real and present risk for prime London owners who are asset-rich but not cash-liquid. This week’s London property news bulletin also covers landlord sales concentrated in London and the South, a £24.4 million private facility refinancing a Belgravia freehold, prime rents edging up under the Renters’ Rights Act, new leasehold service charge protections, and why sellers still pricing to 2021 are watching their listings go stale.