The number of million pound plus properties sold in UK reaches highest since 2007

The number of property sales in the UK worth at least a million pounds has risen to its highest level since the peak of the housing market in 2007, according to new research by Lloyds TSB.

There were 3,375 million pound property sales in the first half of 2011, equivalent to 19 sales everyday over the period. This is the largest total since 2007 and 10% higher than in the same period in 2010.

The 10% increase in million pound home sales in the first half of the year was in marked contrast to the 9% fall in residential property sales as a whole over the period. There are now an estimated 200,000 homes in Britain worth at least one million pounds.

Source: Property Wire