Plenty to choose from if you've got a million
Published: 10:53, 11 November 2011
There are plenty of homes costing £1m or more available in Kent, including this Grade II listed former rectory in Saltwood.
It is available with Jackson-Stops & Staff, priced £1,975,000. More details on 01227 781600.
Despite the sharp slowdown in the housing market, millionaires are still having little trouble moving home, says a new report.
The number of sales worth at least £1m has hit its highest level since the peak of the housing market in 2007, says new research by Lloyds TSB.
There were 3,375 sales at £1m and above in Britain in the first half of 2011 - equivalent to 19 sales every day over the period. This is the largest total since 2007 (3,680) and 10% up on the same period in 2010 (3,075).
The 10% increase in £1m home sales in the first half of the year was in marked contrast to a 9% fall in residential property sales as a whole over the period - but £1m sales account for only 1.1% of total sales.
Even in London, million pound sales account for only 5.7% of all sales.
There are now an estimated 200,000 homes in Britain worth at least £1m and London saw a rise in sales in the sector, up from 1,926 in the first six months of 2010 to 2,163 in the corresponding period of 2011.
Almost two-thirds of all million pound sales in Britain in the first six months of this year were in the capital, followed by the South East (690).
All these regions in southern England, together with the North East and Scotland, saw more sales in the first six months of this year, against the same period last year.
Suren Thiru, Lloyds TSB housing economist, said: "Strong demand from cash rich buyers as well as limited supply of such properties, has helped to boost the level of activity at the very top end of the housing market."
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Ray Edwards