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24 Sept 07 - £1m Homes Spread Across Country
London's share of homes selling for more than £1m is shrinking
as seven-figure properties become more common, new figures
show.
A total of 6,170 properties in England and Wales sold for
at least £1m during the year to the end of June, compared
with just 2,249 in the 12 months to June 2002, according
to Halifax Estate Agents. But although more than half of
all properties sold for that total during the year were
in London, the capital's share of these homes is reducing,
dropping from 68% five years ago as prices rise across the
board. The group estimates that there are now about 88,000
homes valued at more than £1m in England and Wales, up from
just 30,000 five years ago.
About 6% of all homes sold for more than £1m were in the
North, double the proportion seen five years earlier. Overall
a third of postcode districts in England and Wales had at
least one property in them that sold for at £1m-plus, compared
with only 17% in 2001-02.
Source: Halifax
News items supplied by SelectNews, produced by PA Business,
part of the group that owns The Press Association, the UK's
national news agency. Copyright (c) PA Business 2007.
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