£1million house sales rose first half of 2016

The number of UK house sales over £1m increased by 12% in the first half of 2016 compared to the corresponding period in 2015, Lloyds Bank research has found.

In the early part of the year sales surged as investors looked to avoid the 3% stamp duty surcharge coming in from 1 April.

Sarah Deaves, private banking at Lloyds Bank, said: “The strength of the London economy, stamp duty changes and the attractiveness of UK prime property to overseas buyers, could all play a part in the boost to sales at this level.”

The significant majority of £1m plus house sales (91%) were in London, the South East and the East of England.

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Written by: Houseladder