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Who wants to be a property millionaire? Zoopla reveals there are now more than 750,000 £1m+ homes in Britain

9th February 2018

  • Number of property millionaires in Britain is now 768,553
  • Guildford is the town with the most property millionaires (5,889)
  • Nearly half (49 per cent) of all homes in Beaconsfield are valued at £1m or more
  • Zoopla launches £1m property calculator tool showing homeowners when their home might hit the £1m mark
  • There are now 768,553 property millionaires in Britain, accounting for 2.7 per cent of the nation’s housing stock, according to new data from Zoopla. This is a rise of 143,476 (22.95 per cent) property millionaires since August 2016 when the data was last analysed.

    The latest figures are released alongside the launch of a new tool from Zoopla, which allows users to see when their own home may reach the magic £1m mark. The £1m property calculator uses 20 years’ worth of Zoopla property price data to estimate when homes across Britain might be worth £1m.

    Zoopla’s latest analysis revealed that there is still a clear north-south divide when it comes to property millionaires. Unsurprisingly, London reigns supreme in the bucks and mortar stakes with the most property millionaires (430,720), which equates to 12.8 per cent of the capital’s total housing. The affluent South East follows in second place with 180,397 homes worth £1 million or more and the East of England in third (69,840). However, heading across Britain, Wales has the fewest property millionaires with just 2,223 homes worth £1 million or more, followed by Yorkshire and the Humber and North East England with 4,103 and 4,835 property millionaires respectively.

    At a more local level, the research also reveals the 50 British towns which are home to the highest number of property millionaires. Top of the list, it would seem that Guildford’s streets are paved with gold with 5,889 £1m+ homes in the Surrey town– accounting for 13 per cent of all properties in the area. The university hubs of Cambridge (5,530) and Reading (5,421), are second and third respectively.

    At the other end of the list, bringing up the rear is leafy Walton-On-Thames with just 1,999 properties meeting the golden price tag. Cheltenham and Dorking are second and third from bottom respectively, with 2,015, and 2,046 property millionaires. Although Beaconsfield (Buckinghamshire) is midway down the rankings for quantity of property millionaires, proportionally nearly half (49 per cent) of homes in the area fall into the millionaire price bracket.

    Within the capital, the borough of Westminster cashes in with the highest number of property millionaires (54,231), which make up 49 per cent of the area’s properties. Regal Kensington and Chelsea follows in second place (45,366) and Camden in third (37,908). Meanwhile, outer-London borough, Barking and Dagenham, is home to the fewest million-pound homes with just 20 breaking into this value bracket – just 0.03 per cent of the total housing market. The boroughs of Bexley and Newham aren’t far behind with just 578 and 608 property millionaires respectively.

    Lawrence Hall, spokesperson for Zoopla comments: “Whilst there might be a greater number of £1m+ 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.”

    Follow this link to try out the £1m property calculator

    British regions ranked by number of £1m+ properties

    Rank

    Region

    Number of £1m+ properties

    Number of £1m+ properties as proportion of total housing stock

    Average current property value

    1

    London

    430,720

    12.8%

    £675,382

    2

    South East England

    180,397

    4.5%

    £414,245

    3

    East of England

    69,840

    2.6%

    £360,731

    4

    South West England

    33,717

    1.2%

    £306,029

    5

    North West England

    12,552

    0.4%

    £194,093

    6

    West Midlands

    12,219

    0.5%

    £226,519

    7

    Scotland

    11,101

    0.4%

    £188,850

    8

    East Midlands

    6,845

    0.3%

    £215,461

    9

    North East England

    4,835

    0.3%

    £189,290

    10

    Yorkshire & The Humber

    4,103

    0.2%

    £177,016

    11

    Wales

    2,223

    0.2%

    £186,271

    Top 10 British post towns with the most £1m+ properties

    Rank

    Post Town

    Number of £1m+ properties

    Number of £1m+ properties as proportion of total housing stock

    Average current property value

    1

    Guildford

     5,889

    13%

    £599,667

    2

    Cambridge

     5,530

    5%

    £472,350

    3

    Reading

     5,421

    4%

    £433,781

    4

    Sevenoaks

     5,416

    19%

    £693,477

    5

    Oxford

     5,242

    7%

    £523,802

    6

    St. Albans

     4,981

    10%

    £596,890

    7

    Bristol

     4,792

    1%

    £328,023

    8

    Edinburgh

     4,759

    2%

    £285,118

    9

    Leatherhead

     4,707

    24%

    £796,637

    10

    Twickenham

     4,596

    18%

    £768,793

    Top 10 London Boroughs with the most £1m+ properties

    Rank

    London Borough

    Number of £1m+ properties

    Number of £1m+ properties as proportion of total housing stock

    Average current property value

    1

    Westminster

    54,231

    49%

    £1,409,251

    2

    Kensington & Chelsea

    45,366

    58%

    £2,162,539

    3

    Camden

    37,908

    36%

    £1,219,525

    4

    Wandsworth

    30,686

    24%

    £750,488

    5

    Hammersmith & Fulham

    30,019

    37%

    £974,352

    6

    Barnet

    24,719

    18%

    £648,074

    7

    Richmond upon Thames

    23,322

    29%

    £857,258

    8

    Islington

    22,973

    22%

    £823,309

    9

    Lambeth

    17,701

    13%

    £653,052

    10

    Southwark

    17,428

    12%

    £622,063

    Source: Zoopla, December 2017

    - Ends -

    For further information, please contact Stefanie Midmer on 0203 872 5697 / 07710 095 081 or stefanie.midmer@zoopla.co.uk.

    Notes to editors

    Zoopla is the UK's most comprehensive property website, focused on empowering users with the resources they need to make better-informed property decisions. We help consumers both find their next home and research the market by combining hundreds of thousands of property listings with market data, local information and community tools.

    At Zoopla we are fans of transparency and everything we do is aimed at making the market more efficient for both property consumers and advertisers alike. Zoopla has rapidly become the UK’s leading online destination for property consumers to search for homes and do their market research and the favoured online marketing partner for UK estate agents, letting agents and property developers.

    Launched in 2008, Zoopla has since been one of the fastest growing websites in the UK, now attracting over 40 million visits per month and we are proud to have collected numerous awards and accolades along the way, including being named one of the Top 10 UK Tech Companies (Guardian) and one of the Top 10 Most Innovative UK Companies (Smarta).

    Zoopla is part of Zoopla Limited which was founded in 2007 and has a highly-experienced management team, led by Founder & CEO, Alex Chesterman.

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