How many 1m-plus homes are sold near you?

David Bentley
Image caption This road in Cambridge saw six homes sold for more than £1m

Householders are increasingly likely to live on millionaire row as sales of £1m-plus homes rose to a new high in England and Wales last year.

A total of 16,119 property sales for £1m or more were completed last year, up 5.4% from the previous high in 2016.

Over the past decade, most were sold in London, but sales have doubled in the East of England – the biggest increase of any region in England and Wales.

University cities such as Cambridge and Bristol have seen £1m-plus sales surge.

Recommended For You

VideoMate RESELLER

100% automated video marketing.Get automated content Get automated traffic Get automated list building Get automated social followers Get automated PROFITSAll using the power of VIDEO

Post Gopher - Expansion Pack

Take Your Lead Capture And Profits to The Next Level With This Post Gopher Expansion Pack Add-On

Private Offer Repwarn Resellers Account

Repwarn PRIVATE Resellers Offer Monthly account

Rising house prices and demand prompted by investment in these areas has pushed many properties’ sale prices above the £1m threshold.

In there were homes over £1m sold since 2007, with the most expensive sold for .

Recommended For You

Commission Gorilla V2 Instant Bonuses Monthly

Load Up The Gorilla With 25 Ready Made Bonuses. Plus Get 2 New Bonuses Per Month Added To Your Account - Early Adopter Discount Applied

Store Buildr - The Chess Master

The Ultimate ‘Done For You’ Niche Website Store!

Viral Traffic Machine - OTO 1

Viral Traffic Machine - OTO 1

@-moz-keyframes gel-spin { 0% { -moz-transform: rotate(0deg); } 100% { -moz-transform: rotate(360deg); } } @-webkit-keyframes gel-spin { 0% { -webkit-transform: rotate(0deg); } 100% { -webkit-transform: rotate(360deg); } } @-ms-keyframes gel-spin { 0% { -ms-transform: rotate(0deg); } 100% { -ms-transform: rotate(360deg); } } @keyframes gel-spin { 0% { transform: rotate(0deg); } 100% { transform: rotate(360deg); } } .bbc-news-visual-journalism-loading-spinner { display: block; margin: 8px auto; width: 32px; height: 32px; max-width: 32px; fill: #323232; -webkit-animation-name: gel-spin; -webkit-animation-duration: 1s; -webkit-animation-iteration-count: infinite; -webkit-animation-timing-function: linear; -moz-animation-name: gel-spin; -moz-animation-duration: 1s; -moz-animation-iteration-count: infinite; -moz-animation-timing-function: linear; animation-name: gel-spin; animation-duration: 1s; animation-iteration-count: infinite; animation-timing-function: linear; }

If the postcode search does not load, click to launch the interactive content.

The findings are based on analysis by the BBC data team of Land Registry figures for England and Wales. The data does not cover addresses in Northern Ireland and NIdirect Land Registry does not make comparable data available. It also does not cover Scotland, where Registers of Scotland data is not free to download.

.carto-container { position: relative; color: #404040; font-family: ‘Helmet’, ‘Freesans’, ‘Helvetica’, ‘Arial’, sans-serif; font-weight: 400; line-height: 1.4; } .carto-container h3 { margin-top: 18px; font-weight: bold; font-size: 18px; } .carto-subhead { padding-bottom: 8px; display: block; } .carto-embed { position: relative; padding: 0 24px; } .carto-key figure img { width: 100%; display: block; }

Sorry, your browser cannot display this map

Recommended For You

Lingo Blaster Agency

30 Day Money Back Guarantee

RANKSNAP Basic

Rank Page #1 of Google in a snap with this Automation tool

Bing Bang Profits DFY Campaigns (3)

Bing Bang Profits OTO1 DFY Campaigns. 3 Done for you Camapaigns to copy and implement to fast track your results.

Map built using Carto

Hackney

The new millionaires’ row

Overlooked by cranes and within earshot of a soundtrack of construction on a huge new development on the outskirts of Cambridge is Hobson Road.

This newly-built “signature” street of four and five-bedroom homes saw six £1m-plus sales in 2017.

Joe Reed

Across the city as a whole, a total of 119 sales of £1m-plus properties were completed last year – the first time the number has topped 100. Over the past 10 years there has been a fourfold rise in sales in this price bracket in the university city.

More are being built to meet demand, in part, from newcomers employed at the Cambridge Biomedical Campus – one of the largest medical research sites in the world.

Joy Roxas
Image caption This show home is marketing newly-built homes on sale for £1,050,000

In the window of the local estate agent in Trumpington in the south of the city, 20 posters are advertising properties for sales, and 13 of them are being sold for £1m or more.

David Bentley, partner at Bidwells, said: “Cambridge is a global brand that appeals to all four corners of the globe. [The city] has a continually growing population which leads to a shortage of good quality housing, which leads to house price rises each year, which gradually edges transaction numbers over the £1m threshold.

“It is also true the science and tech sectors are growing faster than any other business sector, which has a corresponding impact on incomes.”

Hackney

The university challenge

Sales of £1m-plus homes have more than doubled in 104 local authority areas of England and Wales in the 10 years since 2007.

Investment in areas with leading universities has led these locations to see some of the biggest increases in such sales.

In addition to Cambridge (a 441% rise), there has also been a surge in Warwick (up 317%), Oxford (up 270%), Bristol (up 260%), and York (up 150%).

Northern Ireland

The rises over the past decade come despite a drop in £1m-plus property sales in the immediate aftermath of the financial crisis, which hit the housing market as a whole.

In some parts of the country, a property sold for £1m or more guarantees a certain level of luxury. That is not necessarily true in London, which has consistently witnessed the highest house prices in the past 10 years.

Kensington and Chelsea is the only borough that has seen sales in this price bracket fall since 2007, although until recently it still had the most properties sold for £1m or more than any other part of England and Wales. Such sales are now more frequent in Westminster and Wandsworth.

The borough of Hackney has seen the biggest percentage rise, up from 15 sales in 2007 to 270 in 2017.

Regionally, the biggest increase in £1m-plus sales in the past decade was not in London, but in the East of England.

postcode search

How is the number for your area calculated?

The BBC data team analysed all residential transactions sold at full market value in England and Wales from the Land Registry price paid dataset for the period from January 2007 to December 2017.

All transactions over £1m (including those at exactly £1m) were mapped to local authorities using the latest Ordinance Survey’s Codepoint Open mapping file from February 2018 that contains data for each postcode unit in England and Wales. Postcodes not found in the OS Codepoint Open mapping file were not counted as part of the analysis, as they could not be matched to a local authority.

HM Land Registry does not cover addresses in Scotland or Northern Ireland. Registers of Scotland data is not free to download and the NIdirect land Registry for Northern Ireland does not make comparable data available.

Design by Joy Roxas and development by Evisa Terziu and Joe Reed.

.news-app-promo { box-sizing: border-box; background-color: #000; padding: 0.5em; margin-top: 1em; } .news-app-promo__section { display: inline-block; margin: 0 auto; position: relative; width: 100%; text-align: center; margin-top: 8px; } .news-app-promo-text { color: #fff; font-family: helvetica; min-width: 277px; border-right: 0.25em solid #fff; border-left: 0.25em solid #fff; padding: 0 1em; width: 35%; margin: 1em auto; display: block; } .news-app-promo-text__tagline { font-size: 1.09em; } .news-app-promo-text__download { font-size: 2.25em; font-weight: 600; } .news-app-promo-buttons { margin: 0 auto; max-width: 35%; display: block; } .news-app-promo-buttons__buttons { display: block; } .news-app-promo-buttons__logo { display: inline-block; } .news-app-promo-subsection { display: inline-block; margin: 0 auto; margin-right: 10px; } .news-app-promo__bbc-logo { display: inline-block; width: 106px; margin-bottom: 8px; } .news-app-promo__play-store, .news-app-promo__app-store { display: block; width: 161px; height: auto; margin-bottom: 8px; } .news-app-promo-subsection–link { text-decoration: none; border: 0; }

The best way to get news on the go

Download the BBC News App.

Original Article : HERE ; This post was curated & posted using : RealSpecific

Thank you for taking the time to read our article.

If you enjoyed our content, we'd really appreciate some "love" with a share or two.

And ... Don't forget to have fun!

Recommended Products

LeadFunnelCloud Premium-Membership

Get this Cloud Based App That Creates INSTANT Done-For-You UNLIMITED Profitable Lead Funnels To Build A HUGE List,Drive Targeted Social Traffic and Affiliate Commissions In Just 60 Seconds

VidViral Reseller

Reseller Version of VidViral

Leave a Reply