The volume of real estate sales from £ 1 million in London grow.

As shown by the new market research based on information from land registries, the number of sales of real estate worth one million pounds and is more expensive in England and Wales increased by 6 % relative to its peak in 2007.

The capital of the UK, London dominates the market in this price range. The share capital accounted for two-thirds of the total number of houses worth £ 1,000,000 and more, whose number is 7734 houses and flats sold in England and Wales. Just last year, the number of deals worth £ 1 million and more in London increased by 7.8%.

Analysts note that the above figures reflect an increase of contrast in the housing market in the UK between London and other UK regions. Although there are some encouraging signs that took place in early 2013 – cash flow slowly began to flow from London to its suburbs. In regional cities, the weak economic recovery prevented the sale of luxury real estate worth 1 million pounds.

Meanwhile, on account of the property of the London and South-East of England almost 9 out of 10 trades at a cost of £1 or above £1 million pounds, that is 87,2 %. Dramatically different Midlans and Wales, North West, North East, Yorkshire and Humber, which accounted for only 258, or 3.2% of all sales of properties worth over £1 million pounds.

London dominates the six regions . Kensington and Chelsea ( Offer to investors. Chelsea ) accounted for 19% of sales in this price category, followed by Westminster with 18% (Penthouses and flats in London. Westminster.), then Hammersmith and Fulham with 9%, Wandsworth and Camden, 8%, and Richmond with 7%. However, sales in these expensive areas of London accounted for over 50% of all sales of real estate cost from £1 million pounds in England and Wales.

Localized analysis of those areas of London has shown that the resumption of transactions level from £1 million pounds was due to the continued growth of sales in those areas of London that have been in the last 10 years ennobled, while the main objects in the more Mature main districts of London now exceeds £1 million pounds before 2007.

The fact that such areas of London, like Southwark, Hammersmith, Battersea and Islington saw a big growth in sales of expensive real estate reflects the increase in the number of real estate class “Premium” in London.

In addition to London, in 10 counties the sale of a property worth £1 million pounds sterling was trying to reach the level of 2007, however, the Oxfordshire is the only County that saw growth. The sale of a property worth £ 1 million grew by 21%, to 142 in 2012, reflecting the growing attractiveness of Oxford and the surrounding area. On the other hand, sales in Manchester fell by 68%.

In some cities outside of London have recorded double digit increase in sales of real estate worth from £ 1 million since 2007. The most significant increase was recorded in Oxford 129% to 214, Brighton 52% to 139 and Cambridge by 32% to 153.

® Helen Entree. 26.04.2013 g.