25 Oct

More people buy million pound houses for sale in UK, report says

More people buy million pound houses for sale in UK, report says

More people have been purchasing houses for sale in the UK worth at least £1 million.

This is according to research by Bank of Scotland released today (October 25th 2010), which showed there was a 118 per cent rise in the number of million pound houses sold in Britain during the first six months of 2010.

Findings also revealed that the south of England reported the highest number of million pound properties, followed by Edinburgh, which accounted for 40 per cent of the million pound sales in Scotland during this period.

Scotland saw a 36 per cent increase in million pound property sales, while Wales and the north of England reported a drop compared with the first half of 2009.

Bank of Scotland's housing economist Martin Ellis said: "The rise in the number of million pound properties sold in Scotland since 2009 has been significant."

The report also found that London recorded the highest increase of million pound property sales at 134 per cent.

This compounds comments made by Frogmore Property Company's Paul White who said the capital is a "safe haven" for people purchasing houses.ADNFCR-1222-ID-800154962-ADNFCR

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