The Million Pound Market

Posted on: 12 August 2019

THE MILLION POUND MARKET

There were 14,794 homes sold across England and Wales in the past 12 months priced at £1 million or more. This equates to just 1.7% of all sales and just under £26 billion in value.

As in previous years, the tally of properties selling at or above the £1 million threshold was greatest in London, where over half (59%) of all £1m+ homes sold in the past year. This represents 1 in every 10 property sales.

London’s share of the £1m+ market has diminished over time though, as prices in other regions have increased. Back in 2013, London boasted 69% of all £1m+ sales. Since then, the share of the prime market has increased in every other region of England and Wales.

In the even higher echelons of the market, there were 2,860 homes sold for £2 million or more, and 379 sales for £5 million or more, in the past 12 months.

In the Ruislip area, there are currently 9 properties listed on Rightmove over £1 million, 2 are sold, 2 under offer and 4 available.  Lawrence Rand has one of these properties, a charming Grade II listed detached four bedroom cottage situated on a generous plot in a highly desirable location close to some of the area’s most sought after schools. Check out the details HERE.  

Share:


Recent Articles

3 December 2019

Top Ten Property Portals

Each month, the top 10 property portals appear in 15 million Google searches. In today’s world it is a given that buyers use property portals to search for their potential new home. Rightmove was named the portal of choice by over 75% of buyers and sellers in research conducted by the...

3 December 2019

Sold! Sstc

Nine in every ten home sellers expects to complete their property transaction within three months of their property being ‘Sold Subject To Contract’ (SSTC), according to results of the 2019 Property Academy Homemovers Survey. In reality, just over half (55%) met that timescale....

22 November 2019

Ruislip Buy To Let – Past, Present And Future

Investing in a Ruislip buy to let property has become a very different sport over the last few years. In the glory days of the five years after the turn of the Millennium, where we had double-digit house price growth, mortgage companies (notably Northern Rock, HBOS and their...

semi circle instant online valuation

Get an instant online valuation

Find out how much your property is worth