Million pound property sales soar
THE number of properties selling for more than £1m increased in 2012, reaching the highest level since the height of the housing boom in 2007, according to latest research from Lloyds TSB. The total number rose by 2 per cent from 7,270 in 2011 to 7,397 in 2012. However, they were still 10 per cent lower than in 2007 at the height of the housing boom
The million pound sector outperformed the rest of the market with sales under £1m falling by three per cent in 2012. Sales of a million pounds and more accounted for 1.1 per cent of all national sales.
However, sales of multi-million pound properties fell slightly in 2012. They declined two per cent.