City joins the pounds 1m property ladder.LIVERPOOL has seen its first house sell for more than pounds 1m as the booming housing market causes prices to rocket. It has not been revealed where the property is, but according to figures released by the Halifax today, it is one of 1,312 pounds 1m-plus homes to be sold in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. in the first half of this year. In comparison, 2,449 such properties were sold in the whole of 2001, and a total of 9,139 since the beginning of 1995. The London areas of Kensington and Chelsea Kensington and Chelsea, inner borough (1991 pop. 127,600) of Greater London, SE England. Kensington is largely residential with fashionable shopping streets and several luxurious hotels. Portobello Road is a well-known street market. and the City of Westminster Noun 1. City of Westminster - a borough of Greater London on the Thames; contains Buckingham Palace and the Houses of Parliament and Westminster Abbey Westminster accounted for 44% of these sales. In the north, Macclesfield recorded the highest number of pounds 1m-plus sales, with eight in the first half of 2002. Trafford in Manchester, Stratfordupon-Avon and Warwick were the only other districts outside the south to record more than one sale over pounds 1m. Martin Ellis, group economist at the Halifax, said: ``House price inflation over the last few years has resulted in a substantial rise in the number of properties sold for over pounds 1m since 1995. ``The vast majority of these sales are in southern England but there are signs that the phenomenon is spreading to the rest of the country.'' |
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