A record 33 sales of homes worth at least £1 million took place in Britain every day typically during the first half of this year, research from Lloyds Bank has revealed. It shows that more million pound properties exchanged hands in St Albans in Hertfordshire in the first half of 2014 than in the whole of Scotland.
Lloyds found that 6,143 transactions involving million pound homes took place during the first six months of 2014 as the housing market recovery took off, which is a 46% uplift compared with the first half of 2013.
The findings across Britain equate to 33 million pound transactions
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According to the latest Land Registry house price index, the average property across England and Wales fell 0.2 per cent from £177,824 in August to £177,299 last month, well short of the peak of £181,324 in November 2007. This is the first monthly dip recorded since March 2014, when prices fell 0.1 per cent.
London prices also fell between August and September, dropping 0.7 per cent to an average of £460,521. However, like England and Wales, London prices were up year-on-year in September and stood 18.4 per cent higher than the average of £388,954 in September 2013.
Reported in today's Telegraph and across the globe, was the probably unsurprising news that London property has overtaken Hong Kong when it comes to high end, new build, house prices.
The cost of a new build home situated in the UK's capital, has risen by 16% over the last year, according to a report by property group, CBRE. The index has Hong Kong and New York in second and third place, with prime property costing £1,950 and £1,800 respectively.
Jennet Siebritis, head of residential research at CBRE, cites the intense supply and demand imbalance in London as the main factor driving up prices
House prices in Cambridge have risen more than any other British town or city over the past seven years. They are now a third higher than their previous peak in 2007 and have increased by an average of £53,000 over the past year alone.
The university city is one of eight locations where prices have surpassed their previous record highs, analysis by property firm Hometrack has found. All are in the south of England except Aberdeen, where prices have been driven up by the booming oil industry.
At the other end of the scale, homes in Belfast are still fetching only half the amount they did before
House price growth in the South East is set to grow faster than in London in the coming years as buyers spread their search outside the capital, according to property website, Rightmove, who predicts that Southampton, Luton and Brighton will b thee "country's best property bets" for those house hunters who have been priced out of London.
Its latest data found that sellers' asking prices across England and Wales edged up by 2.6% month-on-month in October to reach £271,669 on average, which is the lowest monthly rise seen at this time of year for six years.
Lady Gaga has made the move from tenant to homeowner, with the purchase of this lavish mansion.
The 28-year-old singer - who grew up in New York City - has reportedly purchased her first home in California. A real estate source told gossip website TMZ.com that the 'Bad Romance' hitmaker bought a huge compound in Malibu from the founder of Warner Bros Worldwide Consumer Products Division, Dan Romanelli.
The magnificent property, which has a secret entranceway, sits on 6 acres and boasts five bedrooms, 12 bathrooms, an elevator, pool, gym, wine cellar, two-lane bowling alley, bocce ball court
The UK's most prestigious prize for new buildings, the Riba Stirling Prize, will be awarded TODAY and the London Bridge Tower (The Shard), designed by Renzo Piano Building Workshop is one of the frontrunners on the shortlist of six iconic buildings in the UK.
At 72 storeys, The Shard, or London Bridge Tower as it is also known, is the UK's tallest building and the second highest in Europe. It is a vertical town made up of restaurants, offices, a health clinic and apartments.
Eight "shards" of transparent, reflective glass make up the exterior and are dinted and angled to reflect the movement
Britain’s biggest property website has rebuffed claims that the housing market is heading for a slowdown, with a forecast that prices will soar by 30% over the next five years to average £318,000 in England and Wales and more than £715,000 in London.
But for the first time in more than a decade, it will be markets outside the capital that lead the way in price rises, Rightmove said. It predicts that Southampton will see the fastest house price increases in the country, with values expected to jump 43% by 2019 – adding nearly £100,000 to local prices – while Luton, Brighton and Swindon will not