Lloyds Bank: Property values differ in St Albans and Scotland
A recent analysis of Lloyds Bank’s internal data revealed that more £1 million properties were sold in the city of St Albany in the first half of 2014 than the whole number of sales in Scotland.
It was found that at least 33 homes worth £1 million were sold every day in Britain in the first half of 2014, revealed a survey result. About 66 properties worth a minimum of £1 million were sold in St Albans and the same number for Scotland is only 43. These figures show the vast difference between the values of properties in both areas and it was also revealed that 6,143 properties were sold for a transactional value equal to or more than £1 million in the months January to June 2014in the nation.
This shows a 46 percent rise on the year-on-year value of 2013. Out of the total sales, seven out of 10 took place in London and one in four were in Kensington and Chelsea or Westminister. Outside London, properties of such high values were sold in areas such as Elmbridge, Bath, Somerset, Surrey etc. Considering areas outside southern England, such transactions were high in the market towns such as Nantwich, Knutsford and Sandbach and also in Edinburgh with figures amounting to 31 and 20.
The study found that the north-east areas of the nation had more of the sales of million pound homes this year where at least 15 properties were sold this year. In Wales, 7 properties were sold for a million pounds and this is the lowest recorded number so far this year, however, this is still a rise in sales by 75 percent compared to last year. It is also generally observed that multi-million property sales are also becoming common lately and at least 1,360 homes were sold for a minimum price of £2 million.