Labour leader Ed Miliband is the only main UK political party leader who owns and lives in a ‘mansion’, according to his party’s definition based on its proposed Mansion Tax for properties valued at over £2m.

According to Zoopla, Miliband’s north London home is now worth £2.73m, more than three times the average in the area.

Both David Cameron’s west London home and Nick Clegg’s in south London fall just short of the £2m threshold, worth £1.97m and £1.89m respectively.

UKIP chief Nigel Farage’s home in Kent is valued by Zoopla at £550,000.

Each leader has seen the value of their home grow substantially since the last election, says Zoopla.

Miliband has seen the value of his home increase by a staggering £1m. Cameron’s home has risen by £671,000 in value and Clegg’s by £573,000.

As things stand, Miliband would be the only current party leader who would be required to pay the annual Mansion Tax, although house price rises could also soon nudge Cameron and Clegg into this territory.

Lawrence Hall of Zoopla said: “Soulless second kitchen or not, Ed Miliband’s home is in a desirable part of London and is now worth a lot more than he paid for it before the last election.

“He may, however, have to put any plans for upgrading his kitchens on hold if Labour comes to power as his tax bill is likely to rise by at least £3,000 per year.”