Most and least expensive homes sold in Britain – including semi for £22.5million

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We might be in the midst of a pandemic, but it hasn’t stopped house prices soaring.

So if you’re looking for a bargain, now might not be the right time, since in the last few months, a semi-detached property in London has sold for a whopping £22.5m.

Shockingly, an apartment in Grosvenor Square, London, was snapped up for over £19m too.

All of the most pricey properties were situated in the country’s capital city.

In other parts of the UK, prices were a little more affordable.

In County Durham, one lucky buyer snapped up a terrace house for just £18,000.

Lancashire and Hartlepool also offered up some steals, barely breaking the £20,000 mark.

Average house prices across the UK increased by 4.7% over the year to September 2020, up from 3.0% in August 2020, to stand at a record high of £245,000.

During July 2020, the threshold for Stamp Duty in England was raised to £500,000, with equivalent taxes in Wales and Scotland raised to a threshold of £250,000.

The tax holiday is due to end on 31 March 2021 across the whole of the UK.

Analysis by the Office of National Statistics suggested the reduction in property taxes may allow sellers to ask for higher prices as buyers ‘ overall costs are reduced, according to the ONS.

As well as this, with people advised not to move house during the tightest restrictions in April and May, any sales that did go ahead may have been more likely to be chain-free ones, such as those involving first-time buyers who generally purchase less expensive homes.

Weird and wonderful home listings
Recent price increases may reflect a range of factors including pent-up demand, some possible changes in housing preferences since the pandemic, and a response to the changes made to property transaction taxes across the nations.

Since then the pandemic may have also caused house buyers to reassess their housing preferences – the figures show the average price of detached properties increased by 6.2% in the year to September, while flats and maisonettes only increased by 2.0%.

Pent-up demand may have also contributed towards an increase in house prices – the Bank of England’s Money and Credit September 2020 release showed mortgage approvals for house purchases increased in September 2020 to 91,500, the highest since September 2007.

According to the Land Registry, 48,317 home sales have been registered for August, 25,982 for September, and 622 for October.

It may take several weeks for sales to be registered after completion so some sales from later in the period may not be listed yet.

The impact of coronavirus has meant that it is taking longer for sales to be registered.

The Land Registry has also warned its services are likely to be disrupted due to the pandemic, particularly the process of registering a new sale, which likely means a longer delay between the house sale completing and the record being updated at the Land Registry.

Based on the data covering the period so far, across England and Wales, there were 2,139 £1m or more sales, including 404 at £2m or more.

A look inside the quirky narrow house for sale in Southampton

The Land Registry lists the price paid for every property bought at market value. The data also includes sales under a power of sale/repossessions, buy-to-lets (where they can be identified by a Mortgage) and transfers to non-private individuals.

As the data relies on buyers, or their solicitors, registering the sale and the price paid with the Land Registry, mistakes in listings may happen, they are usually corrected at a later date.

Issues can include figures with too many digits or shared ownership prices paid for a part share listed as the whole price.

Most expensive sales in August to October across England and Wales

  1. 5 The Boltons, London, Kensington and Chelsea, Greater London, SW10 9TB, which is a semi-detached house, sold for £22,500,000 on August 18
  2. Apartment 4.03, 20 Grosvenor Square, London, City of Westminster, Greater London, W1K 6US, which is a flat, sold for £19,475,000 on September 03
  3. 5 The Grove, London, Camden, Greater London, N6 6JU, which is a semi-detached house, sold for £19,000,000 on September 18
  4. Flat 4, 47 Grosvenor Square, London, City of Westminster, Greater London, W1K 2HS, which is a flat, sold for £18,600,000 on August 20
  5. 27 The Little Boltons, London, Kensington and Chelsea, Greater London, SW10 9LL, which is a semi-detached house, sold for £14,100,000 on September 23
  6. Tree Tops, Compton Avenue, London, Haringey, Greater London, N6 4LH, which is a detached house, sold for £11,000,000 on September 07
  7. 17 Upper Wimpole Street, London, City of Westminster, Greater London, W1G 6LU, which is a terrace house, sold for £10,750,000 on September 17
  8. 22 Hamilton Terrace, London, City of Westminster, Greater London, NW8 9UG, which is a terrace house, sold for £10,500,000 on September 16
  9. 38 Chester Terrace, London, Camden, Greater London, NW1 4ND, which is a terrace house, sold for £10,200,000 on September 04
  10. 10 St Leonards Terrace, London, Kensington and Chelsea, Greater London, SW3 4QB, which is a terrace house, sold for £8,750,000 on August 06

Least expensive sales in August to October across England and Wales

  1. 14 Ninth Street, Horden, Peterlee, County Durham, County Durham, SR8 4LZ, which is a terrace house, sold for £18,000 on August 25
  2. 18 Gordon Terrace, Stanley, County Durham, County Durham, DH9 0LF, which is a terrace house, sold for £20,000 on August 27
  3. 38 Bird Street, Brierfield, Nelson, Pendle, Lancashire, BB9 5BD, which is a terrace house, sold for £20,000 on September 10
  4. 44 Leyland Road, Burnley, Burnley, Lancashire, BB11 3DR, which is a terrace house, sold for £20,000 on August 06
  5. 65 Thornton Street, Hartlepool, Hartlepool, Hartlepool, TS26 9ET, which is a terrace house, sold for £20,000 on August 06
  6. 15 Hudson Street, Burnley, Burnley, Lancashire, BB11 4PL, which is a terrace house, sold for £20,000 on September 04 (This sale may have been a buy-to-let, a transfer to a company, or a repossession)
  7. 27 Warren Street, Peterlee, County Durham, County Durham, SR8 4NA, which is a terrace house, sold for £20,000 on September 18 (This sale may have been a buy-to-let, a transfer to a company, or a repossession)
  8. 28 Rose Avenue, Stanley, County Durham, County Durham, DH9 7RB, which is a terrace house, sold for £20,000 on September 04 (This sale may have been a buy-to-let, a transfer to a company, or a repossession)
  9. 34 Warren Street, Horden, Peterlee, County Durham, County Durham, SR8 4NA, which is a terrace house, sold for £20,000 on September 18 (This sale may have been a buy-to-let, a transfer to a company, or a repossession)
  10. 9A Davison Drive, Hartlepool, Hartlepool, Hartlepool, TS24 9BN, which is a terrace house, sold for £20,000 on August 10 (This sale may have been a buy-to-let, a transfer to a company, or a repossession)
  11. 103 Sixth Street, Peterlee, County Durham, County Durham, SR8 4JX, which is a terrace house, sold for £20,000 on September 18 (This sale may have been a buy-to-let, a transfer to a company, or a repossession)
  12. 118 Kenilworth Court, Washington, Sunderland, Tyne and Wear, NE37 3EQ, which is a flat, sold for £20,000 on August 26 (This sale may have been a buy-to-let, a transfer to a company, or a repossession)