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How London’s housing market stagnated

The introduction of a so-called mansion tax in this year’s Budget is likely to depress prices in some parts of the capital even further

Rebecca Thorne has been trying to sell her flat for more than a year.

She and her husband bought their two-bedroom apartment in Canary Wharf for more than £600,000 at the height of the market in 2015, a year before the Brexit referendum. They love the flat and the building’s pool and gym. But wanting more space for their family of three boys, they listed it at £600,000.

With few bites, they bumped it down to £575,000 — and were shocked to get an offer of £515,000.

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