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Nearly half a million Londoners now 'property millionaires

09 February 2018

Nearly half a million Londoners are now “property millionaires” as the number of homes worth £1 million shot up across the country, according to new research.

A staggering 430,720 of about 770,000 properties in Britain valued at at least £1 million are located in the capital, according to website Zoopla.

The postcode with the most million-pound properties was SW6, covering Fulham and Parson’s Green with 14,020.

Next was NW3, covering Belsize Park and Hampstead, with 12,500, and then N1, which takes in Islington and parts of Shoreditch, with 11,301.

There are now 768,553 homes across Britain valued at at least £1 million, according to Zoopla.

This is a jump of 22.95 per cent or 143,476 more property millionaires since August 2016 when the data was previously analysed.

With large concentrations of property millionaires in London and the South East of England, the research found there are more than double the number of million-pound properties in Guildford, Surrey than there are across the whole of Wales.

Guildford was identified as the top million-pound property hotspot outside London, with 5,889 homes there valued at £1 million-plus.

Top ten boroughs £1 million properties by local council area

  1. Westminster, 54,231

  2. Kensington and Chelsea, 45,366

  3. Camden, 37,908

  4. Wandsworth, 30,686

  5. Hammersmith and Fulham, 30,019

  6. Barnet, 24,719

  7. Richmond-upon-Thames, 23,322

  8. Islington, 22,973

  9. Lambeth, 17,701

  10. Southwark, 17,428

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