There are now more than 750,000 homes in the UK worth more than £1 million, making us a nation of growing property millionaires.
Data from online property specialists Zoopla showed that the number of properties valued at £1m plus stands at 768,553. And the town of Guildford in Surrey has the most property millionaires in the country with 5,889. Meanwhile, nearly half of all homes (49 percent) in the Buckinghamshire town of Beaconsfield are valued at £1m or more, demonstrating that the north-south divide is alive and kicking in the housing market.
Those seven-figure plus homes are only 2.7 percent of the entire UK housing stock. But their number has risen by 143,476 since Zoopla last analysed the data in August 2016.
It’s no surprise that London and the south-east dominates the figures. The capital has an incredible 430,720 homes that are worth more than a million, while there are 180,397 million-plus properties across the south-east.
Wales has the fewest property millionaires. There are just 2,223 homes valued at seven figures and upwards there.
Zoopla has also unveiled a new online calculator so users can put in their postcode and find out when their own home might hit that magical million mark.
Lawrence Hall of Zoopla said: “While there might be a greater number of £1 million-plus properties than ever before, the data shows that they still only represent a small fraction of all UK housing stock.
“Our latest tool allows curious homeowners to dream a little and see when their home might hit the million-pound mark.” –
Here are the top 10 UK regions by £1 million-plus properties:
Fran is the content writer for Capital Conveyancing, producing articles on all aspects of the conveyancing process and around the UK property market in general. If there is a topic you'd like to see covered on these pages, please drop Fran a line on [email protected]