The £1 million property hotspots

Alex Johnson

9335758615a3c41bccc019f3a34862b4d8b4983e 300x199 The £1 million property hotspotsThe number of £1 million plus homes sold in 2013 in the UK was 10% higher than the peak levels of 2007, estimates Hamptons which has calculated that 9,700 properties were be sold for more than £1 million last year compared with the previous peak in 2007 of 8,900.

Central London dominates the £1 million+ property sales with Fulham topping the list. Outside London, Harpenden tops the list, followed by Ascot, Beaconsfield, Henley-on-Thames and Oxford.

“The overall housing market is recovering,” said Fionnuala Earley, Research Director at Hamptons International, “but the £1 million plus market is outperforming all other sectors. Lower dependence on mortgage finance is a major reason for this extra buoyancy, which has raised activity in this sector above 2007 levels. Beyond the M25, the hotspots are all in the South of the country with great links to London.”

Six in ten landlords predict rising demand
Around 58% of landlords predict tenant demand will grow in the next twelve months, according to figures from LSL Property Services, with four in ten landlords reporting growth in tenant demand in the last six months. Nearly a fifth also expect to expand their portfolios in 2014. David Newnes, director of LSL Property Services, said: “Demand for rented accommodation is strong, exemplified by the fact that the number of lettings, new viewings and applicants are all rising.”

When do people search online for a new home?
According to Rightmove, Tuesday between 12-1pm is the busiest time for property searching, unless you are on a mobile device in which case it is Sunday at 8pm. The most viewed property was a house in Middlesex which was decorated with a strong purple theme, followed by multimillion pound properties in and around London and in Newcastle.  Matthew James, Head of Communications at Rightmove, said: “You could describe 2013 as a year of two halves as the market really picked up momentum in the summer. All five of the busiest days on Rightmove were in August as confidence returned and people took advantage of the holidays to plan a move for the second half of the year.”

£45,000 on DIY
The average homeowner in Britain will spend £45,000 over their lifetime on home improvements, according to a study by NAPIT, a membership and training provider for 10,000 trade installers. The kitchen is the room people will spend the most on, around £2,200 per home they live in while the average person will decorate most rooms in the house at least twice – this same average person says that their current home is only 56% perfect…

Pictured is a two bedroom cottage for sale at £350,000 in Old Botley, Oxford OX2, on with Thomas Merrifield

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