The number of real estate more expensive than £1 million increased by 38% for the year

The number of residential properties in England costs more than £1 million or more that are located outside of London has increased by 38% over the past year.

Using данные6 submitted to the land registry, and information obtained from municipalities through September 2014, the real estate company Knight Frank highlighted the areas where are located the largest number of houses of more than £1 million

The largest increase in the number of houses-millionaires was in the towns adjacent to London. It’s such cities as Elmbridge, Guilford, Windsor and Maidenhead.

The real estate markets of these cities have experienced a ripple effect from rising prices in London, when in favor of suburban life began to make choices as a family from London, and investors seeking the opportunity to find a better purchase option.

Prices for suburban real estate has risen on average by 5.6% in 2009, but at the moment, prices are still 16% below their pre-crisis peaks, indicating the growth potential of this market.

For example, if to compare with London prices in London have risen by 74% since the crisis and now 32% above their pre-crisis peaks. While this difference in price is not smooth market, those buyers who decide to make a choice in favor of the suburbs of London, can benefit a lot in price and earn a capital gain.

In Midline and Wales the number of homes and apartments more than £1 million grew by 74% over the year, I wouldn’t say the North East of England where prices are rising much more slowly and the number of houses-millionaires grew by only 24%.

However, from the point of view of number of sales, the main objects of residential real estate is more expensive than £1 million are concentrated in the South of England, in counties where well-organized transportation system, mainly along the slopes M3, M4, M40 motorways, in towns with good schools and organized local activities and amenities.

Despite the fact that the number of houses-millionaires in England is growing from year to year, all together the house has not yet amounted to even 1 % of the total housing stock.

® Alice Morgan 05.12. 2014.

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