The majority of MPs believe the creation of higher rate council tax bands is a better way to reform local property taxes than a mansion tax, pollsters have discovered.

A ComRes survey of 150 parliamentarians conducted for property experts the British Property Federation found nearly seven-in-ten (69%) of MPs think higher council tax bands would be a better way to levy annual property charges on high-value homes.

Nearly two-fifths (39%) of Labour MPs also backed this solution to the party's stated position of imposing a mansion tax on homes worth more than £2m, despite the fact the policy is set to form a key plank of its General Election manifesto.