RECORD HIGH SEEN FOR £1MILLION PLUS HOUSE SALES
Recent Land Registry figures state that despite a small decline in the number of £1million plus houses sold in the UK in the first half of 2017, the second half saw a rebound. This culminated in a 5% increase in sales to 14,474 in 2017, a record high compared with 13,748 seen in 2016. This compares with only 7,862 £1 million plus house sales, recorded in 2012.
Whilst London remains the location that represents 60% of £1million plus house sales, other areas across the country were represented in the data. Eighteen local authorities outside the capital reported such sales, including Elmbridge in Surrey, Windsor, Maidenhead, the Chilterns, and South Bucks. Louise Santaana of Lloyds, who analysed the Land Registry figures, stated: ”As always, the highest number of transactions took place in the capital last year, however growth in London has started to slow for million pound properties. Overseas investors represent a good share of this end of the London market and some may be holding off buying, pending further clarity over Brexit.”
Read m ore in our Property Review section Residential Property Review June 2018