£2m-plus home sales at record level

Record numbers of multimillion-pound homes were sold in Britain last year despite the weak housing market generally, a study has found.

Homes which sell for more than £2 million are now subject to a 7% stamp duty rate which was increased from 5% in last month's Budget, prompting concerns from estate agents that some property chains could crumble as a result, causing disruption further down the ladder.