Thursday, 05 May 2011 21:59

London. More people are buying million-pound homes after it was revealed that sales at the top end of the property market have increased.
Lloyds TSB reported earlier this week (May 2nd 2011) that there was an increase in £1 million property sales in 2010 by 54 per cent compared with the number of transactions in 2009. Ed Mead, director at Douglas & Gordon, suggested that the rise in stamp duty was an impetus for the purchases at this end of the market.
However, he also stated that people with good jobs and large deposits are in a position to buy at the moment as the interest rates have remained low. "[Property] has been at its cheapest, they may have been doing ok in their jobs and they have seen their house prices being supported, if not going up," Mr Mead said. (Agencies)