Britain’s house prices continue to rise, with 143,476 properties passing the million-pound mark since August 2016.
That’s according to new research by Zoopla, which found the largest concentrations of property millionaires are, perhaps unsurprisingly, in London and the South-east of England.
Out of 768,553 houses that are worth seven figures or more in the UK, 430,720 can be found in the capital alone – equating to 12.8% of London’s total housing.
In Westminster, 49% of all homes in the area are worth over £1million. With a population of 226,841, this equates to 23.89% of the borough – or almost one in four people – who live in a million-pound property.
Wales fares worst in a regional breakdown with just 2,223 £1m properties – nearly 9,000 fewer than Scotland.
Property data from 2017 also shows the 10 richest streets around the country are all in London.
Kensington Palace Gardens, next to Hyde Park, remains at the top of the list with an average property price of £35,696,711.
The top 10 areas with a million pound houses
1. London, 430,720
2. South East England, 180,397
3. East of England, 69,840
4. South West England, 33,717
5. North West England, 12,552
6. West Midlands, 12,219
7. Scotland, 11,101
8. East Midlands, 6,845
9. North East England, 4,835
10. Yorkshire and the Humber, 4,103
11. Wales, 2,223
Outside of London, Guildford was identified as the top million-pound property location, with 5,889 homes there with a valuation of at least £1million.
Other areas faring well for expensive properties include Cambridge, Reading, Oxford, St Albans, Bristol and Edinburgh.
The top 10 towns in the UK with the most millionaire properties
1. Guildford, 5,889
2. Cambridge, 5,530
3. Reading, 5,421
4. Sevenoaks, 5,416
5. Oxford, 5,242
6. St Albans, 4,981
7. Bristol, 4,792
8. Edinburgh, 4,759
9. Leatherhead, 4,707
10. Twickenham, 4,596
The prices shown focus on the outright cost of the property, although no data has been released to clarify a breakdown between home-owners and those renting a property with a cost past the million-mark threshold.
The new figures have been released alongside the launch of a property calculator, which allows users to track when their own home may reach the £1million mark.
It uses 20 years’ worth of Zoopla’s house price data to estimate when homes across the UK could hit this point.