Ed Miliband is the only party leader living in a 'mansion'

But rising property prices mean Cameron and Clegg will soon be hit by any 'mansion tax'.

by Rachel Savage
Last Updated: 02 Apr 2015

Ever wondered how much party leaders’ London homes are worth? Wonder no more: Ed Miliband lives in a ‘mansion’, but David Cameron and Nick Clegg aren’t far off.

Miliband’s north London pile is currently worth £2.73m (all two kitchens of it), 10.3 times the average UK home, according to some conveniently-timed number crunching by property site Zoopla just six weeks before the General Election.

Its value has risen more than £1m since the last election in 2010, taking the Labour leader well into the £2m+ territory that would qualify him for the ‘mansion tax’, an idea nicked off the Lib Dems and famously pilloried by singer Myleene Klass who told Miliband on live TV, ‘You can’t just point at things and tax them.’ (Except if he does become PM, he can.)

Cameron’s west London home, meanwhile, is just shy of the threshold at £1.97m, a rise of £671,000 since the last election. Clegg’s south London house isn’t far behind at £1.89m, up £573,000. That increase is more than the value Nigel Farage’s Kent home right now - £549,000, up from £446,000 five years ago.

Zoopla didn’t look at the politicians’ constituency homes, but MT can imagine Cameron’s Oxfordshire country retreat is worth a pretty penny, at least compared to Doncaster and Sheffield anyway.

These figures could well hand more ammunition to those who accuse politicians of being ‘out of touch’ with normal people, particularly against Miliband, as his wealth looks somewhat out of kilter with his focus on the so-called ‘cost of living crisis’. But then again the Labour leader is presumably perfectly happy to pay his own tax should he get into power.

Either way, they’ve all done pretty well out of the now-slowing property boom – something that can’t often be said for anyone who doesn’t own a home in the south east.

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