Is your home worth over £1 million? Over half a million people in Britain are now “property millionaires”

James Nickerson
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The average house price on Kensington Palace Gardens is more than £42.5m (Source: Getty)

The total number of people sitting on properties worth more than £1m now exceeds half a million for the first time.

There are 524,306 “property millionaires” in the UK, a rise of 8.3 per cent in a year, according to property website Zoopla.

There are now 10,958 streets where the average property price is more than £1m, with 43 per cent of these streets based in London.

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Outside London, the highest concentration of streets where average property price exceeds £1m are all in Surrey, with Leatherhead, Richmond and Guildford housing 154, 144 and 158 respectively.

In the UK, there are 13 streets in Britain where the average house price is worth more than £10m, all of which are in London. Kensington Palace Gardens is ranked as the country’s most expensive street, with homes there worth £42.6m on average.

The Boltons, where average property stands at £30.3m, and Grosvenor Crescent, with an average property price of £22.7m earn the status of second and third most expensive streets.

Zoopla spokesperson Lawrence Hall said:

London continues to be the epicentre of the million-pound property market in Britain, but the Zoopla property rich list reveals a number of high-value property areas outside the capital, particularly in Surrey and Buckinghamshire, that are very attractive to professionals seeking to live outside yet within easy reach of the city and enjoy low crime rates coupled with good schools.

There are 121 million-pound streets in Scotland, 17 in Wales and four in Northern Ireland.

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