UK properties sell more than million pounds

a3c69f49f915e062b5600111b4bbe8de896f898ea8a90fb12cpimgpsh_fullsize_distrResidential properties in UK sell for million pounds. According to the research by Lloyds Bank, the number of million pound sales in the first half of 2016 was 12% higher than in the first six months of 2015. Locations in central London are still the most expensive with nearly two in three of all million pound house sales, with the largest national shares in Kensington and Chelsea and Westminster where both have 8% of all national sales.

Sarah Deaves, private banking director at Lloyds Bank says: “Over the last year, there’s been an increase in the number of houses being sold for more than £1 million, but there’s also been a dip in the average house price at this level for two years in a row. The strength of the London economy, stamp duty changes and the attractiveness of UK prime property to overseas buyers, could all play a part in the boost to sales at this level. Due to a reduction in the average prices for all those homes sold for more than £1 million, Virginia Water in Surrey is now Britain’s only million pound town.”

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