Houses-buyers continue to throng London and the South East for luxury residential properties priced £1 million and above, according to latest data from Lloyds Bank.
The latest trend indicates that over 8 in 10 top-end house sales are happening in London and the South East; majority of £1 million house purchases (83 per cent) were concentrated in London and the South East. In fact, the sales in the South East experienced a rise of 15 per cent to 1,497 during the first half of 2017.
Incidentally, the luxury market has outperformed the rest of the sector, latest house price data from Lloyds revealed. Overall, there was a modest drop (-1%) in the number of properties sold for more than a million pounds across Great Britain in the first six months of 2017, with actual number of sales to 6,613.
Another interesting fact is that total sales of million pound properties in northern England strongly outperformed many other parts of the country in the first six months of 2017. Purchases of prime properties in the North West and Yorkshire and The Humber rose by 55 per cent and 45 per cent respectively.
Purchases of million pound properties in the North West, and Yorkshire and The Humber shot up in the first six months of 2017.