As Labour leader Ed Miliband has railed against the owners of large homes and vowed they must pay more through his controversial 'mansion tax ' . But now it has emerged that he is the only party leader who would be liable to pay the levy on their property . The Labour leader 's house in north London is said to be worth more than the £2million threshold he has set for the tax , while David Cameron , Nick Clegg and Nigel Farage all live in cheaper properties . Scroll down for video . Labour leader Ed Miliband he is the only party leader who would be liable to pay the levy on their property . Mr Miliband was mocked after it emerged his home had two kitchens when he posed drinking tea with wife Justine . Property website Zoopla found that Mr Miliband 's north London home value at £2.73million , up by more than £1million since 2010 . By contrast Mr Cameron 's house in West London home would narrowly escape the mansion tax , being valued at £1.971million . Mr Clegg , who lives in Putney in south west London , would also escape with his home valued at £1.89million . Ukip leader Mr Farage is said to have a house in Kent worth a more modest £550,000 . 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 . ' Nick Clegg 's home in Putney in south west London is valued at £1.89million . Mr Cameron 's house in West London home would narrowly escape the mansion tax , being valued at £1.971million . Ukip leader Nigel Farage is said to have a house in Kent worth a more modest £550,000 . Under Labour 's plan , people trapped in expensive homes who have no access to savings will be protected from the charge aimed at properties worth £2million or more . Shadow chancellor Ed Balls has promised to hike the levy for homes with over £10million , to ensure they make a ‘ significantly bigger contribution ’ . The £2million limit will rise in line with property prices , instead of inflation ‘ to ensure that more modest properties are not brought into the scope of the tax ’ . Labour has joined the Liberal Democrats in promising an extra charge on expensive properties , to target rich homeowners – especially wealthy foreigners who buy up properties in London . There will also be protection for people who do not have large savings or higher earnings , but who live in an expensive home . The Lib Dems used to argue in favour of a 1 per cent charge on the value of any home worth more than £2million , but there are concerns it would be difficult to implement .
Labour leader wants levy on all homes worth more than £2million . Levy will ratchet up to raise more on properties over £10million . The Tories have promised a mansion tax of at least £50,000 for those who earn more than £2million. 1.9million , study shows . Nigel Farage has a more modest house in Kent valued at £550,000 .