Over the last 12 months, three properties in East Lancashire have sold for more than £1 million - one of them attracting a buyer with its whopping £3.7 million price tag.
The homes, all in the Ribble Valley, sold between July 2021 and July 2022, with the reported total value of the three sales reaching more than £6.09m.
These three deals mean this area of East Lancashire, specifically Clitheroe, is positioned 103rd across England, Wales and Scotland, as having the most amount of house sales over the £1m price mark.
However, home buying company, Property Solvers, and a local auctioneer, reported the total value of these sales was actually down 78 per cent from the same period in 2020-2021, when the total value of sales within the BB postcode area was £13.92m.
The most expensive properties sold across BB postcodes in the last year were in:
- Clitheroe Road, Waddington, Clitheroe, £3,700,000
- Brookes Lane, Whalley, Clitheroe, £1,225,000
- Whalley Road, Pendleton, Clitheroe, £1,168,960
Speaking on the data, which was calculated using HM Land Registry sold house price statistics, co-founder of Property Solvers Ruban Selvanayagam said: "Although there remains a fairly healthy volume of sales in this price bracket, such a pronounced drop would suggest buyer appetite for these types of homes is decreasing.”
“£1 million-plus properties - even for the wealthy - are a major commitment and indeed affected by the wider economy.
"With unabated inflationary pressures and rising interest rates as a result, it would not be too much of a surprise to see a continued cooling off across the high-end property market in the coming year at least."
There are currently only two properties with BB postcodes on the market for more than £1 million.
They are:
- A six-bed detached house in Hurst Lane, Rawtenstall, Rossendale, for £1,400,000
- A four-bed detached house in New Barn Lane, Rawtenstall, Rossendale, for £1,100,000
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