Halifax has released figures that the sale of "million pound" properties fell in 2003 compared to 2002. Halifax revealed that 1,181 million pounders were sold compared in the first six months of 2003 compared to 1,212 in 2002.
The falls in the numbers sold were predominantly in the South-east and there were significant increases in the North.
Our view
These figures are as expected. The North - South divide has narrowed and the property market has slowed in the South-east whereas it has continued to grow in the North.
As prices in the North, whilst not catching up, increase more and more cross the million pound threshold.