Sales of million pound homes fall, states Lloyds TSB report A higher cost of living and low wage growth have limited Britons' ability to make that extra leap up the housing ladder. However, a report by Lloyds TSB showed the super-rich are suffering no such constraints, with record sales of homes in the very top price bracket. The report showed a 5pc fall in 2011 to 6,911, following a 55pc rise in 2010. There are an estimated 165,000 homes in Britain worth at least £1m, and prices fell in eight of 11 regions in Britain. The biggest fall was in the West Midlands, where sales fell 35pc. Wales, the North East and the East Midlands were the only regions to record an increase, although the report pointed out these were from a very low base. Lloyds TSB said the fall reflected "the general weakness in activity across most of the housing market," which has been hit by the weak economy and relatively low levels of bank lending. Sales of houses overall fell 4pc last year to 698,200. But the report showed that the very wealthiest in Britain were not having to tighten their belts, unlike the rest of the population. Sales of houses worth at least £2m rose 5pc to 1,518 in 2011 - the highest level in this price bracket since records began in 1995. Sales were mostly concentrated in London. "The rise in the number of multi-million pound property sales compares with the weakening picture across the rest of the market," said Suren Thiru, Lloyds TSB economist. Continued demand from wealthy cash rich buyers, both from the UK and overseas, as well as limited supply has meant that this segment of the market remains largely immune from the headwinds facing the vast majority of homebuyers.