More than a quarter of house sales are above £250,000

Alex Johnson

7f554c7f5d8d7db04105107507d1d068dacb8184 300x213 More than a quarter of house sales are above £250,000 Properties bought above the £250,000 mark made up 27 per cent of total transactions in 2012, according to research by Halifax Intermediaries Premier Mortgages.

Although the number of all home loans grew by six per cent, mortgage applications for properties sold above £250,000 rose by nine per cent in 2012 compared to the previous year and up 28 per cent since 2009.

“It is no surprise that a large proportion of purchases above £250,000 are in Greater London and the South East,” said Ian Wilson, head of sales at Halifax Intermediaries. “Traditionally we generally see a spike in clients reviewing their finances in the first three months of the year, with this year being no exception.”

More than 145,000 properties above £250,000 were sold in 2012, with 59 per cent of those in Greater London. This was the highest figure, followed by the South East (39 per cent). The least was in the North (nine per cent).

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  • Zamindar

    I’m not surprised. I live in the SE and it is extrememly difficult to buy a decent house for less than £250,000. Odd pockets where houses are cheaper, but not places where most people would want to live.

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