MORE than 30 properties worth more than £1 million were sold across Chester postcodes over the last 12 months, but despite the eye-watering sums, the market appears to be shrinking.
Homes with sale prices as high as £2.55 million were recorded between September 2021 and September 2021, with 31 properties sold for over the million pound mark. These statistics place the region 65th across England, Wales and Scotland for the number of luxury properties sold.
Using HM Land Registry sold house price statistics, the home buying company, Property Solvers, and local auctioneer reported the total value of these sales arrived at £40,988,250. Relative to the same period in 2020-21, this represented an decrease of 13% (from £58.12 million).
Some of the most expensive properties sold across Chester (CH) postcodes include locations such as:
- Plough Lane, Christleton, Chester, CH3 7BA - £2,100,000
- Gayton Lane, Wirral, Merseyside, CH60 3SJ - £1,950,000
- Thorsway, Wirral, Merseyside, CH48 2JJ - £1,800,000
- Mill Lane, Willaston, Neston, Cheshire, CH3 7QN - £1,700,000
- Stanley Road, Hoylake, Wirral, CH47 1HN - £1,425,000
- Queens Drive, Wirral, Merseyside, CH60 6SH - £1,383,000
- Thurstaston Road, Heswall, Wirral, CH60 6SB - £1,350,000
- Stanley Avenue, Wirral, Merseyside, CH63 5QF - £1,350,000
Speaking on the data, co-founder of Property Solvers, Ruban Selvanayagam said: "Although there remains a fairly healthy volume of sales in this price bracket, such a drop would suggest that buyer appetite for these types of homes is decreasing.
"£1 million+ properties - even for the wealthy - are major commitment and indeed affected by the wider economy.
"With continued inflationary pressures and rising interest rates as a result, it would not be too much of a surprise to see a continued cooling off across the high-end property market in the coming year at least."
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