High-end properties still priced at peak levels

Houses worth more than £1 million continue to be priced at levels higher than the housing market peak in 2007, estate agency Prickett & Ellis has suggested.

The comments are in contrast to recent figures released by Zoopla.co.uk, which showed that the number of London properties worth more than £1 million has fallen by 29 per cent in the last two years.

Nigel Ellis, senior partner at Prickett & Ellis, said he was surprised by the figures as it was "certainly not he case" that his firm has less of the high-end properties on their books.

"We [have] actually [been] selling at record prices. We can't get enough of the stuff," he said.

"If anything, [in] the £1 million-plus market, the prices and the sale prices are as high as they have ever been. What is dragging down the average price is the bottom end of the market where there are no first-time buyers."

According to the Zoopla figures, released yesterday (November 4th), 57 per cent of the UK's £1 million properties are located in London.

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