A TOWN in Hampshire has been named as having the largest rise in the number of homes selling for a million-pounds and over.

Stockbridge has landed top of the list for areas seeing the biggest rise in the proportion of stock selling for above a million-pounds.

The percentage of all sales in the area, which are worth one million-pounds and above has jumped from 11 per cent to 26 per cent now.

House buyers are flocking to the Hampshire town according to Rightmove, the UK’s largest online real estate portal and property website, who recently completed a marketing study which included, comparing the year before with the Covid-19 pandemic since the housing market re-opened. 

The analysis revealed that Stockbridge had a significant increase in its percentage of homes that sold for the million-pound mark.

The town in Hampshire is one of the many areas that has seen the increase in the percentage of million-pound homes sold.

Across Great Britain the increase in the number of million-pounds homes that are selling is up 80 per cent on pre-pandemic levels, compared with an overall increase across all property sales of 37 per cent.

In London only 40 per cent of homes are sold for the million-pound mark and more, while 47 per cent were sold before the world experienced the Covid-19 pandemic. 

Interestingly, Scotland has overtaken London as the fastest-moving market for million-pound properties, finding a buyer 25 days quicker on average than before the pandemic.

Tim Bannister, Rightmove’s director of property and data said prime sales growth has outperformed the market over the last year.

He said: “Prime sales growth has outperformed the wider market over the past year, as many people across Great Britain have chosen to take a step up the property ladder, potentially moving further out to afford a bigger property, or finally making the move to their forever home.”

Overall, The South East recorded the biggest increase in the share of million-pound homes across Great Britain, rising from 26 per cent to 29 per cent.