Tory civil war

[AtW]

Why would house prices drop? People who are living in them aren't suddenly going to all leave

Yes, exactly - they'll stay put at home, so less movement in market, less demand - price goes down.

Also foreign demand will be reduced, who the fook among the wealthy wants to live in London when they can choose to live in Paris, Vienna, Berlin and have zero hassle? It's not like taxes on the rich are much higher there.