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Million pound home sales fall 11 % in 2011

Million pound property sales have fallen to their lowest level since 2009, according to research by Bank of Scotland. There were 132 property sales worth at least one million pounds in Scotland in 2011, a fall of 11% from 148 in 2010. This is the lowest number of sales since 2009 and more than double the percentage decline across the UK as a whole (-5%). In total, there are now an estimated 3,000 homes in Scotland worth at least one million pounds.Million pound property sales underperform the rest of the market
The 11% fall in million pound property sales in 2011 was almost double the fall in sales across the rest of the housing market. Overall, total home sales in Scotland fell by 6% from 74,747 in 2010 to 70,035 in 2011.