The number of million pound properties sold in England and Wales has trebled in the past five years, according to Halifax Estate Agents. They estimate that there are now 88,000 homes valued above £1m.
London accounted for 58% of all million pound property sales in the year to June 2007 but other regions ? namely in the Cheshire areas dubbed “footballers’ wives” favourites? have reduced London’s share of the prime property market.
The number of properties sold for £1m and above outside the south of England has more than doubled over the past two years. The survey shows that only 5% of all postcodes account for 70% of million pound sales
SW3 in Chelsea had the most million pound sales over the past year (200), followed by SW7 in South Kensington, W8 in Kensington and SW6 Fulham. Outside London, the most million pound sales were in KT11 in Cobham in Surrey.
Cheshire districts of Altrincham and Macclesfield have most million pound sales in northern England
Properties valued at £1m and over accounted for 0.5% of all home sales in the year to June 2007.
Colin Kemp of Halifax Estate Agents says: ‘Million pound property sales are now taking place right across England and Wales and not just in inner London. At the same time, million pound property clusters are emerging. In London, million pound sales are centred on Kensington and Chelsea. There are other clusters around Cobham, Esher and Weybridge in Surrey and around Altrincham, Macclesfield and Wilmslow in Cheshire.’
Most expensive post codes in England & Wales
Number of £1m+ properties sold between 2002 – 2007
RICHMOND (SURREY)_TW10: 223