A TOTAL of 269 properties priced over £1 million were sold in the SO postcode area in the last year. 

With sales prices reaching as high as £6.5 million, the Southampton area is positioned number 17 across England, Wales and Scotland as having the most amount of sales over the landmark price point.

But the total value of all sales above a million was down significantly on the previous year. 

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The statistics come from recent research by Property Solvers and relate to properties sold between September 2021 and September 2022.

Using HM Land Registry sold house price statistics, the home buying company and local auctioneer discovered the total value of these sales was £401,135,234.

During the same period in 2020/21, sales over a million in the SO area generated £666.12 million.

In terms of number of properties sold, the figures put Southampton in position number 17 across England, Wales and Scotland - above Chelmsford and below Oxford.

The most expensive property sold in the area in the last year was in Sarisbury Green and reached £6.5 million. 

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Properties in Broughton near Stockbridge (£4,701,500) and Symonds Street in Winchester (£4,200,000) both topped the £4 million mark while a property in Cliff Road, Milford On Sea was nearly there at £3,999,950.

A home in Chilton Candover near Alresford sold for £3.75 million, while the owners of a Rectory Lane, Winchester property achieved a price of £3.45 million.

Lymington proved a property hotspot with a home in King's Saltern Road reaching £3.3 million and one in Grove Road selling for £3.1 million. 

Sarisbury Green made the list again at a £2.9  million price point and a Rhinefield Road, Brockenhurst property sold for £2,650,000.

Property Solvers co-founder Ruban Selvanayagam said: “Although there remains a fairly healthy volume of sales in this price bracket, such a pronounced drop would suggest that buyer appetite for these types of homes is decreasing.

“£1 million plus properties - even for the wealthy - are a major commitment and  affected by the wider economy. With continued 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."

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