Lloyds TSB research found out that sales of 1-million pound properties in the UK hit its 4-year high.
According to the latest figures revealed by Lloyds TSB, the number of 1-million pounds' houses sold in the first six months of 2011 was the highest in the past 4 years.
It stood at 3,375 or 19 houses a day, which compares to 3,075 last year and 3,680 in 2007, before the economic downturn.
Evidently, the largest number of 1-million pound houses was sold in London (Fulham, followed by Hampstead and Chelsea). The other regions, where prime property was demanded by buyers, were the South East, East and the South West of England.
It is interesting to note, however, that 1-million pound property sales only constituted 1.1% and 5.7% of all house sales in the UK and London accordingly. The remaining 90+% of sales accounted for other types of property.
Commenting on the findings, Suren Thiru of Lloyds TSB, said: “Strong demand from wealthy cash-rich buyers both in the UK and from overseas, as well as limited supply of such properties, has helped to boost the level of activity at the very top end of the housing market.”
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