ith house prices dropping and desperate sellers tearing their hair out, Britain is facing its worst housing slump for 20 years.
And it’s not just affecting your average Joe. In times like these, make sure you also spare a thought for our poor celebrities.
It seems their palatial pads — decked out with extravagant rooms, landscaped grounds, pools, gyms and Jacuzzis — aren’t immune. And who can blame buyers? With a punishing 12 per cent stamp duty levied on properties over £1.5 million, you can expect to pay the Government an extra £1,113,750 when you splash out on a £10 million home.
So, which stars are suffering in the current market slump? Who has sold for a song or dropped their asking price, and who’s still holding out for top whack?
Here, LORRAINE FISHER reveals all…
Set in one of West London’s top locations — overlooking Regent’s Canal in Little Venice — Noel Gallagher must have been confident of a quick sale when he first put his house on the market for £11.5 million in 2016. aduqq
But the stucco-fronted five-bedroom semi, with off-street parking and a further one-bedroom self-contained mews house with a gym at the end of the garden, failed to sell and the rock star soon begged for Russian oligarchs to buy it.
But not even slashing the price to £8.95 million last year has helped shift the property, which he bought in 2010 for around £8 million.
Original price: £9.5m
New price: £6.45m
The former Manchester United star first put his stunning mansion up for sale in 2010 with an eye-watering £9.5 million price tag — a significant profit given that he paid £3.2 million for it just five years before.
But after failing to find a buyer, the 47-year-old and wife Theresa have put their eight-bedroom house back on the market for a more reasonable £6.45 million.
The property, in Hale, near Manchester, has 1.2 acres of landscaped grounds, an outdoor pool, and a tennis court.