9 Jul

Estate agents in London 'have seen boost in million-pound property sales'

Estate agents in London 'have seen boost in million-pound property sales'

Estate agents in London have seen a rise in the number of million-pound properties sold.

Research by mortgage provider Santander revealed that there has been a 393 per cent increase in the number of millionaires in Britain with properties worth over £1 million in the last ten years.

It also showed that the number of million-pound residential homes has increased by five times during that period.

This rise is particularly prominent in the capital, where 78 per cent of the million-pound homes can be found.

Director of mortgages at Santander Phil Cliff said: "For many of us our 'home is our castle' and in recent years we've often viewed our home as a key investment too."

The financial services company's results showed that the number of million-pound properties rose by 29,000 during the last 12 months alone.

London Central Portfolio confirmed that it was becoming increasingly popular for people to ask estate agents about buying houses worth between £1 million and £3 million.
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