1 Million Plus Houses Selling Faster

A recent report by Lloyds TSB suggests that the number of UK homes being sold for 1 million plus has rocketed and is the highest for nearly 6 years.

Last year there were 7,397 homes which sold for over the £1 million plus mark making it the highest number of house sales in this bracket since 2007.

The Report suggests that 25% of those sold where in the London boroughs of Westminster, Chelsea and Kensington.

Top-end property sales increased by 2% year-on-year in 2012, with Scotland, the East Midlands and London all seeing rises, Lloyds TSB found.

The report suggests that million pound property significantly outperformed the whole of the UK residential in 2012. It found that house sales of homes below the £1m tag, dropped off by 3% year-on-year.

In contrast, to London, there were just 4 homes in Wales which sold over £1m and 9 in the North East.