Sunday, 11 December 2011 at 17:50, Bloomberg
About 105 of UK properties were valued at more than £15m, Investec Specialist said. (REUTERS)
Britain had 11 per cent more houses valued at £1 million ($1.6m) or more available for purchase in the third quarter than it did a year earlier, Investec Specialist Bank said in a report today.
About 21,982 such properties were for sale with a combined value of £48.7 billion, up 4.8 per cent, according to research from primelocation.com commissioned by Investec, which said the market is “holding up well,” with a “huge” increase in mortgage applications in the category. The average valuation was £2.22 million, a year-to-year decrease of 5.1 per cent.
“This market is very international, especially in London,” said Jack Jones, head of Investec’s specialised banking lending team. “This has resulted in some people deciding to opt out of the capital’s million-pound property market and move to the home counties, which is more affordable.”
About 105 of the properties were valued at more than £15m, Investec Specialist said. Of the total, 44 per cent, or 9,704, were in London and had a value of £26.9bn, with 10 per cent in Surrey and worth £4.47bn, according to the report.
Your comments