The number of homes selling for £1 million or more reached a record number last year, new figures show. Last year there were almost 15,000 properties which went for over a million pounds, according to Lloyds Bank.
The number of houses sold for more than £2 million decreased, from 2,530 in 2017 to 2,501 in 2018.
London as ever was more complicated. Sales fell in London when it came to homes over a million. 8,267 million-pound homes were sold in London in 2018, down from 8,308 in 2017.
In Scotland, Wales, the Midlands and Northern Ireland, sales of properties over £1 million increased. But, given that London and the South East make up 80% of million pound-plus sales, the overall sales picture was fairly flat.
London also saw a 3% decrease in the number of £2 million-pound plus homes sold. There was also little growth in the South East, with 3,400 million-pound homes sold in 2018, up by as little as 20. In Yorkshire, million-pound home sales fell by 23%.
The South West of England saw a 1% fall. Lloyds said: ‘The high-value property boom the country has experienced over the last decade has decelerated in the past 12 months, which is in line with expectations. ‘However, while growth across London and the South East has slowed, there are still a number of property hotspots across the country that would create some value for investors, particularly in the East Midlands.’
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