More Brits Buying Million-Pound Dream Homes 23rd November 2016
For many people, owning a lavish million-pound house with its own gym, luxury pool and huge open-plan kitchen is a pipedream. However, for more Brits it is now becoming a reality, as sales of super houses have risen in the last year.
The number of people buying houses worth over £1 million has increased by 12 per cent from the first half of 2015 to the first six months of 2016, according to the latest figures from Lloyds Bank.
This is despite house prices for properties over £1 million having fallen by seven per cent over the last two years, although this is thought to be down to the sales of extremely luxurious homes exceeding £2 million and £5 million.
“The strength of the London economy, stamp duty changes and the attractiveness of UK prime property to overseas buyers, could all play a part in the boost to sales at this level,” commented Sarah Deaves, private banking director at Lloyds Bank.
While the south-east has the majority of million-pound home sales, with 91 per cent stemming from London, the wider south-east region, and the east of England, it is the north that has experienced the biggest changes in the market.
Sales of million-pound houses soared by 83 per cent in the north-east of England between the first half of last year and the same period this year, which is the largest increase across the UK.
If you’ve been lucky enough to buy a house over £1 million and want to fit a luxury swimming pool in your palatial abode, take a look at these beautiful handmade ceramic tiles and water features that could really add character to your property.