Monday, 5 November 2012

Sales of homes over £1 million drops to lowest level since 2009 - Property - The Independent

Sales of homes over £1 million drops to lowest level since 2009 - Property - The Independent

There  were 3,043 million pound property sales in Great Britain
in the first half of 2012, according to new research by Lloyds TSB,
the smallest total since the first half of 2009 (1,376) and 11 per
cent lower than in the same period in 2011.
Sales of million pound homes represent only 1 per cent of total sales in the first six months of 2012 ( in London, 5.2 per cent). Lloyds TSB estimates that there are around 166,000 homes in Great Britain worth at least one million pounds.
The decline in million pound sales in London - a 151 decrease (-7 per cent) from 2,185 in the first half of 2011 to 2,034 in the same period this year - accounted for almost half of the national decline. However, more than two-thirds of all million pound sales in Great Britain in the first half of 2012 were in the capital. Scotland accounted for the highest proportion of million sales (1.7 per cent) outside southern England.

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