The number of homes sold for £1m and above has risen by 12 per cent in the first half of 2016 - but stamp duty appears to have curbed the asking prices of the most expensive.
Some 6,684 homes sold for seven, eight or nine-figure sums during the period, but research from Lloyds Bank reveals that the average price is £135,251 less than a year ago.
In December 2014 the then-Chancellor George Osborne reformed stamp duty - reducing it for the vast majority of properties but increasing it on most homes sold above £937,000.
Lloyds says north-east England has seen the biggest rise in the number of million-pound-plus sales with an 83 per cent hike - but that was accounted for by just 11 sales.
Scotland was the only part of Britain where £1m-plus sales dropped in the first half of this year.
Unsurprisingly, most purchases took place in London where there were 4,238 sales.