12 Mar

Higher end property market 'doing well'

Higher end property market 'doing well'

The upper end of the property market in the UK, potentially including luxury homes in Kent, is doing well at present.

This is according to Nigel Ellis, director of Prickett & Ellis, who said that residences in this category are selling for good prices.

According to the expert, a shortage of such homes is the cause of the trend.

He went on to suggest that the problems involved in borrowing money to purchase homes are lessening and it is now easier for people to secure finance to go through the conveyancing process.

Mr Ellis stated: "They can borrow, the banks are falling over backwards to lend 60 per cent on a million pound house."

Meanwhile, the Mouseprice Street Rankings for 2010 show that the most expensive street in England and Wales is currently Chester Square in London.

The value of the average residence in that location is said to be £6,596,000.

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