Surge in the number of homes in Britain valued at £1 million-plus
Britain has seen a surge in million-pound homes, with their numbers increasing by approximately a third in the last five years.
That’s according to estimates from property firm Savills.
Around 702,580 properties across the country are now valued at £1 million or more, representing a net gain of 3,127 such homes in 2024 compared to 2023. This means one in every 42 homes in Britain reaching the million-pound mark.
The North East of England saw the biggest rise in property millionaires outside of London
London spearheaded this growth, boasting the largest increase in million-pound homes last year. The capital now has a record 349,068 properties valued at £1 million or more, meaning one in every 11 homes in London falls into this category.