In the last year only 1.85% of all property transactions boasted a price tag of over £1 million.
That’s only 16,200 properties in England and Wales! As you would expect, certain areas carry the bulk of these high-end transactions. 1 in 10 properties sold in London bust the £1 million barrier and 1 in 50 across the South East. By comparison, the ratio in the North East and Wales was only 1 in 1400 sales.
In nearly one quarter of local authorities across England and Wales no sales topped £1 million.
While London dominates the £1 million plus market, its share has diminished considerably over the past few years. Five years ago the London market accounted for over two-thirds of all £1 million+ property sales, now that figure sits at 60%.
All our Waterfords branches have a stunning selection of million pound plus homes for your perusal:
Click here to view the million pound market