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London top for million pound property sales

London top for million pound property sales

Tuesday, 8 February 2005 12:00 AM

The latest figures from the Land Registry show that Greater London is still the preferred destination for property seeking millionaires.

Ninety-three properties costing over £2 million changed hands in the last quarter of 2004, compared to just seven in Surrey, the second highest county.

A total of 436 London properties costing over £1 million were sold in the fourth quarter. This was a slight fall on the figure of 469 for the same period in 2003.

Across England and Wales, 765 properties costing over £1million were sold between October and December 2004 - five more than in the same period last year.

Meanwhile, the average house price rose by nearly 12 per cent from £163,584 in quarter four of 2003 to £182,920 in the same quarter of 2004.

But the overall volume of sales fell by nearly 24 per cent from 301,405 in 2003 to 229,724 in 2004.

If you want to find out the cost of a property purchased since April 2000 visit the Land Registry website.

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