Most Expensive UK Home Reaches £26m In June

The latest figures for property transactions have revealed the most expensive home sold in the UK in June was nearly £26 million.

There is a huge disparity when it comes to the cost of residential properties in the UK, with some going on the market for as little as £20,000 and some worth millions and millions of pounds. Indeed, the latest figures for property transactions revealed the most expensive home sold in the UK in June was nearly £26 million. 

According to the HM Land Registry Price Paid Data, someone bought a home in Kensington and Chelsea for a staggering £25,975,000.

It also showed that 424 residential properties in England and Wales were sold for more than £1 million, 236 of which were in Greater London, while just three were in the West Midlands, two were in Greater Manchester, and
two were in Wales.

In comparison, homes were purchased in Burnley, Bishop Auckland, Ferryhill and Sunderland for just £20,000.

The data also showed the increase in the number of new-build properties being bought recently. There were 10,952 sales of newly built homes in June 2019, representing a 25.4 per cent increase compared with the year

While there is a significant difference between the most expensive and cheapest houses sold last month, the average price of a home in the UK came in at £229,431 in May. 

This is according to the UK House Price Index from HM Land Registry, which revealed this average value is 1.2 per cent higher than it had been in May 2018, and 0.1 per cent greater than April this year.

Despite the overall price increase on a monthly and annual basis, Greater London actually experienced a decline in property values. Indeed, prices in the capital dropped by 2.5 per cent from the month before, and an even greater 4.4 per cent from May 2018.

In contrast, the West Midlands fared much better, with properties increasing in value by 0.2 per cent from April to May 2019, taking average prices to £196,489.

While many property owners wait to see whether Brexit will have a positive impact on their home values, there are some things they can do themselves to help boost their asking price.

For instance, adding stylish features to their property can make it more appealing to potential homebuyers. An electric fire with a stylish surround can add a central point to a living room as well as make it feel warm and cosy.

If your home is a period property, it is worth trying to highlight its traditional features, from coving to dado rails. Even if they are not to your taste, many people favour homes that have an old-fashioned touch, so it is worth keeping, or even emphasising, them.

In fact, Homes and Property recently revealed ‘period properties’ were the tenth most searched for feature among London homebuyers. This follows ‘garden’, ‘freehold’, ‘Help to Buy’, ‘off-street parking’, and ‘garage’, which
are all to do with the space and finances of the purchase, as opposed to the style of the house.

To find a range of stylish fireplaces, take a look in our Norton Cannes showroom.


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