Expensive properties rise in number |
12 2008 |
| New figures show that there are an increasing number of expensive properties in the UK. Halifax Estate Agents has revealed that the number of million-pound properties in the country increased by 36 per cent between 2006 and 2007. The majority of these, 78 per cent, were in London and the south-east, while Kensington & Chelsea was the region with the highest number of million-pound properties. Clearly these houses are out of reach of the average first-time buyer, suggesting that it makes economical sense to rent rather than buy. Gordon Edwards, managing director of Halifax Estate Agents, said that more million-pound properties are beginning to appear elsewhere in the country. "Although there has been a marked increase in the number of million pound property sales over the past decade, a small number of local authority areas in London continue to account for the significant majority of £1 million sales," he commented. "Nonetheless, London's share of all million pound property sales has declined over the past ten years, with a number of million pound property clusters appearing in the south-east around places like Elmbridge and South Buckinghamshire," added Mr Edwards.  |
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