Sales Of £1m-Plus Properties Continues To Rise

Land Registry Figures Indicate An Increase In High-Value Property Sales


Dave Grimshaw, Press Officer | 0114 274 4397
The latest figures published by the Land Registry indicated a sharp increase in the number of properties being sold for over £1 million in England and Wales in April.

According to the latest report, the number of £1 million-plus properties that changed hands in April increased by 39 per cent to 1,028, a rise from 740 in the same month last year. The House Prices Index indicated that 214 of these homes were sold for more than £2 million.

London was the most buoyant market in terms of high-value property, with 735 homes in the capital selling for over £1 million, with Chelsea becoming the most popular area, as foreign investors are driving a property boom in the borough.

In England and Wales overall, Land Registry figures indicated average house prices held steady between May and June 2014 – at £172,011, around £10,000 below the peak price achieved in November 2007.

Expert Opinion
The housing market has been picking up pace in the last 12 months and investment from abroad has led to the development of a fierce property market in London, in particular.

“The sharp rise in the number of high-value properties being sold in England and Wales is positive news, as it underlines the strength of the wider property market.

“When dealing with such a large investment it is crucial that the correct legal checks on the property and the local area are carried out, Buying and selling houses can be a stressful experience so it is important to ensure you have the right support throughout the process to help make your move as smooth as possible.”
Helen Hutchison, Associate