40,000 homes sold for pounds 1m-plus.

Byline: ERYL CRUMP

MORE than 40,000 homes have changed hands for more than pounds 1 million during the past 15 years, research showed today.

Around 43,400 properties in England and Wales have sold for at least a seven-figure sum since November 1994, according to HSBC.

But the group, which analysed Land Registry data, said only four homes had sold for more than pounds 20 million during the period, while 64 had sold for more than pounds 10 million.

The number of homes that have sold for a million pounds has soared from just 186 properties during 1995, to a peak 8,834 in 2007, the year in which house prices started to fall.

Around 2,800 homes are expected to sell for a seven figure sum during 2009, 68% less than in 2007, but still 15 times higher than in 1995.

Unsurprisingly, 61% of homes that have changed hands for at least pounds 1 million were in Greater London, with Kensington and Chelsea alone accounting for 18% of sales.

Outside of London, Elmbridge in Surrey saw the highest level of seven figure sales, with properties in the district accounting for 4% of the total, while Cobham in Surrey, Poole in Dorset and Altrincham in Cheshire, also had a high concentration.

Llandrindod Wells was the only postcode district in England and Wales not to have registered at least one pounds 1 million property transaction during the past 15 years.