More than 200 homes in the Watford postcode area sold for over a million pounds in the last year – but the total value in sales has dropped by nearly half.

Between September 2021 and September 2022, 219 properties with a WD postcode went for over the £1 million price point.

This is the 22nd highest in the UK with the most expensive deals completed in the likes of Radlett and Chorleywood.

Among them were properties in Newlands Avenue in Radlett that went for £6.5 million and £5.75 million, statistics in the HM Land Registry show.

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The total value of the 219 homes added up to just under £325 million, which is a decrease of 47% from £537 million over the same period in 2020-21.

Ruban Selvanayagam, from Property Solvers – which compiled the latest land registry data – 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+ properties – even for the wealthy – are major commitment and indeed affected by the wider economy." 

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He added: “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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