Big Money Property Sales Up Says Halifax

Published: 5/13/2010

Sales of property with values over GBP1 million went up by 36 percent in 2007 compared with the previous year according to Halifax data.

There were over 8,250 sales of million pound plus properties, with over three quarters of them being in the south east of England and London. The largest increase in sales of million pound properties was in Scotland, where the measured increase by the Halifax was 138 percent. This was followed closely by the north east of England, with a 136 percent increase.

The south east has always had strong property values, said a Halifax representative, so it is not surprising to see it heading the number of sales list. It is also notable that rising property prices nationwide have driven up these type of sales further afield.