Almost 350 properties were sold for more than £1m in Reading in the last year, research shows.

As much as £10.5m was spent, meaning the town was home to the 13th highest number of £1m+ sales in England, Wales and Scotland, according to Property Solvers.

The total value of these sales was 524million, representing a 43 per cent decline since the same period in 2020-21.

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Problem 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+ properties - even for the wealthy - are major commitment and indeed 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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Below the most expensive of the 348 £1m+ properties sold across the Reading area over the last 12 months.

  • Highclere Park, Highclere, Newbury: £10,500,000
  • Queens House, Monk Sherborne, Tadley: £7,675,000
  • Waltham St Lawrence, Reading: £5,850,000
  • Remenham Hill, Henley-on-thames,: £5,650,000
  • Loddon Drive, Wargrave, Reading: 4,000,000