The number of property sales worth at least a million pounds is at a record high, according to the latest research from Lloyds Bank.
There were 6,143 million-pound property sales in Great Britain in the first half of 2014 – equivalent to 33 transactions every day.
That represented a 46 per cent increase compared to the same period in 2013 when sales totalled 4,198.
Despite the large increase, the sale of million-pound properties accounts for just 1.3 per cent of all national residential sales – although this share has more than doubled since 2009. Even in London, million-pound sales account for just 7.6 per cent of all sales.
There were 1,360 homes sold for at least £2 milllion in the first half of 2014; 43 per cent higher than over the first six months of 2013.
London drives million pound home sales
Seventy per cent of these sales were in London, followed by 16 per cent in the South East and 6 per cent in the East of England.
But all regions have recorded an increase in sales in 2014 compared to the same period a year earlier. The largest percentage rises in million-pound home sales were in the North East (150 per cent), West Midlands (100 per cent), South West (87 per cent) and the East Midlands (80 per cent).
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