12
Mar
Higher end property market 'doing well'
The upper end of the property market in the UK, potentially
including luxury homes in Kent, is doing well at present.
This is according to Nigel Ellis, director of Prickett & Ellis,
who said that residences in this category are selling for good
prices.
According to the expert, a shortage of such homes is the cause of
the trend.
He went on to suggest that the problems involved in borrowing money
to purchase homes are lessening and it is now easier for people to
secure finance to go through the conveyancing process.
Mr Ellis stated: "They can borrow, the banks are falling over
backwards to lend 60 per cent on a million pound house."
Meanwhile, the Mouseprice Street Rankings for 2010 show that the
most expensive street in England and Wales is currently Chester
Square in London.
The value of the average residence in that location is said to be
£6,596,000.
