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19% surge in high-end properties

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26/06/2013
The number of properties worth

Figures released by global information firm Experian reveal a 19.1% increase in the number of properties valued at over £500,000 put up for sale in the first quarter of the year, compared to Q1 2012.

London and the West Midlands accounted for most of that rise, with these regions witnessing a 26% uplift in available properties in the highest price bracket.

Wales and the North East were the only areas in which fewer properties fell into the £500,000+ price band – down 6.8% and 1.1% respectively, compared to Q1 2012.

The number of properties valued between £250,000 and £500,000 also increased by 11% in the same period.

However, the majority of homes for sale on the UK market in Q1 2013 were valued between £100,000 and £250,000, with 51.4% of properties for sale falling into this price bracket.

Scotland saw the biggest increase in the total number of properties put up for sale, up 20% in Q1 2013 compared with Q1 2012, followed closely by the West Midlands at 18%.

The North East and the Outer Metropolitan Area were the only regions in which the number of properties on the market fell over that period, by 4.2% and 0.4% respectively.

Detached houses are the most frequent house type listed for sale across the UK, with a total of 49,461 detached houses for sale in Q1 2013 compared to 43,796 in the same period last year, an increase of 13%.

Three bedroom properties were the most common size of home on the resale market, accounting for 38.82% of all new listings.

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