A article recently published on the BBC website (article here) reported that householders are increasingly likely to live on millionaire row as sales of £1m-plus homes rose to a new high in England and Wales in 2017.

A total of 16,119 property sales for £1m or more were completed last year, up 5.4% from the previous high in 2016.

Over the past decade, most were sold in London, but sales have doubled in the East of England – the biggest increase of any region in England and Wales.

University cities such as Cambridge and Bristol have seen £1m-plus sales surge.
Rising house prices and demand prompted by investment in these areas has pushed many properties’ sale prices above the £1m threshold.

Mendip’s millionaire row

Looking at the picture locally shows that over the last 10 years there were 68 transactions for 62 properties for £1m or more with the most expensive being Marston House in Marston Bigot which sold for £4.9m.

The closest Mendip has to a millionaire row is Vicarage Lane in Norton St Philip where 3 properties have exchanged hands for over £1m. 7 of the transactions were in the Norton St Philip area. The 68 transactions over £1m are dominated by properties in the Frome area with Rode home to 4 of the £1m plus transactions.

In the Glastonbury and surrounding area 5 transactions exceeded £1m:

• Parbrook Lodge – Parbrook – £1.61m
• Whitegates – West Pennard – £1.35m
• Whitelawn – Butleigh – £1.16m
• Holmans Place – Butleigh – £1,134,825
• Old Bakehouse – Parbrook – £1.06m

Only 3 properties in central Wells reached £1m in the last 10 years.

Street had just 2 transactions over £1m, Overleigh Court and 55 Overleigh at £1m and £1.45m respectively. Overleigh recently featured as the 7th most expensive street in our top 20 most expensive streets in Street and Glastonbury (article here)