The number of properties sold for £1 million to £2 million in Britain fell for the first time in two years, but the number of properties sold for more than £2 million rose to the highest level on record. This is according to research by Lloyds TSB.
There were 1,518 property sales worth at least £2 million pounds in 2011, a rise of 5% from 1,442 sales in 2010. The highest number of sales since records began in 1995.
Sales of properties topping the £2 million pound mark were also 2% higher in 2011 than at the peak of the housing market in 2007 (1,484).
In addition, the number of properties selling for over £5 million rose by 22% from 128 in 2010 to 156 in 2011, providing further evidence of the strength of sales at the very top end of the market.
Over three-quarters (76%) of all £2 million pound plus sales in 2011 were in London (1,161), and more than half of all multi-million pound sales took place in just three boroughs: Kensington and Chelsea, Westminster and Camden.
Suren Thiru, Lloyds TSB Housing Economist, commented on the figures: "The rise in the number of multi-million pound property sales over the past year compares to the weakening picture across the rest of the market, highlighting the strength at the very top end of the housing market."
April 27, 2012
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
To arrange a meeting with one of our expert mortgage advisers complete our enquiry form or mortgage questionnaire and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.
You voluntarily choose to provide personal details to us when submitting an enquiry. Your information is confidential and held in accordance with the appropriate data protection requirements. Read Trinity Financial's privacy policy.
We believe that working together is the best way to gain trust, reliability and certainty.
Excellent service from David. Available. Quick responses. Flexible. My situation wasn’t the easiest and David took...
Excellent service from David. Available. Quick responses. Flexible. My situation wasn’t the easiest and David took the time to double check with banks their conditions prior to get me my agreement in principle. Highly recommended. Mortgage was quick and easy, I was able to focus on the conveyancing part.
More
Less
MichaëlMar 19 2024
My 7th remortgage experience with Anthony and the Trinity team - they're the best - great advice, products and services...
My 7th remortgage experience with Anthony and the Trinity team - they're the best - great advice, products and services.
More
Less
Dave SaucierMar 05 2024
Sophie and Liam were absolutely amazing in getting us the best rates, submitting paperwork quickly and answering all the...
Sophie and Liam were absolutely amazing in getting us the best rates, submitting paperwork quickly and answering all the questions we had very quickly, so we always knew where we stood - which is so important when buying a house. We couldn't recommend them enough!
More
Less
Rita NevesMar 01 2024
15
years' experience
Over the last 15 years we have helped thousands of clients to purchase new homes, secure buy-to-let mortgages and remortgage.
23
mortgage experts
Trinity’s experts will do everything possible to secure the fastest mortgage offers while providing you with regular progress updates.
17,043
mortgages arranged
We consistently arrange fantastically priced fixed and tracker rate mortgages through the leading banks and building societies.