11 Jan

Popularity of expensive houses for sale in London grew in 2010

Popularity of expensive houses for sale in London grew in 2010

The popularity of expensive houses for sale in London grew last year, findings have revealed.

Earlier this week, Primelocation.com released data which showed there are now 39 per cent more properties for sale in the UK on the market worth more than £1 million than there were this time last year.

London in particular proved to be a popular destination for costly houses, as the capital experienced a 22 per cent rise in the number of £1 million-plus properties during the year.

It also found that for homes costing more than £2 million, there are 37 per cent more available today than in January 2010.

Research director at Primelocation.com Andrew Smith said: "Those at the top end of the market are doing extremely well."

He predicted that the popularity of expensive properties is likely to rise in preparation for the stamp duty deadline of April 6th 2011, when homeowners will have to spend more money to buy a costly home.

This comes after Lloyds TSB found that houses for sale in south-west London were the most expensive in England and Wales, with the average cost of a home on Parkside in Merton coming in at £5,058,000. ADNFCR-1222-ID-800334750-ADNFCR

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