A million pounds could once buy you a residence in London fit for a prince, if not a king, but as anyone who has glanced at an estate agent’s window recently knows, those days are long gone.
Sales of properties costing more than £1 million have risen by 10 per cent above the previous peak reached in 2007, with 9,700 transactions at that level, according to a Hamptons International analysis of Land Registry data.
Activity in the £1 million-plus sector has grown faster than the overall housing market in every region of Britain this year, with the exception of Wales and the North East.
Fionnuala Earley, research director at Hamptons, said: “Lower dependence on mortgage finance is a major reason for this extra buoyancy. Rising