Britain now has 500,000 property millionaires - almost 50% higher than last year

The UK now boasts close to half a million property millionaires, thanks to a boom in houses valued over £1m in the last year.

According to property website Zoopla’s “Property Rich List”, there are now 484,081 flats and houses and 10,000 streets where the average property price is seven figures. Last year, there were 300,142 property millionaires in the UK.

Back in 2009, there were just under 200,000 property millionaires whose homes were worth a million.

There are 3,744 streets in London where homes come at an average price of more than £1m.

The research also showed that London’s Kensington Palace Gardens is Britain’s most expensive street. This is where the average property price is £42.7m – that’s 162 times the average British home which costs £263,705.

Zoopla’s Lawrence Hall said: “London boasts all of Britain’s 20 priciest addresses. Prime properties in the capital have long been a magnet for the super-wealthy looking for a safe investment asset. For the lucky few who can afford these stratospheric price tags, the fabulous mansions on streets like Kensington Palace Gardens and the Boltons are offering very strong returns.

“However, you don’t need to be a billionaire to get a chance to own the crème de la crème of property on offer. In Wales and the North East, you can still snap up a prime property in the region’s most desirable streets for little over £1m.”

>> Read: The most expensive streets in the UK revealed - all of them are in London

Highest value areas

1              W8 (Kensington)              £2,780,992

2              SW7 (Knightsbridge)       £2,482,353

3              SW3 (Chelsea)   £2,369,520

4              W11 (Notting Hill)            £1,898,527

5              SW10 (West Brompton)                £1,712,411

6              W1 (West End) £1,624,865

7              SW1 (Westminster)        £1,611,692

8              SW13 (Barnes) £1,436,369

9              SW5 (Earl’s Court)            £1,371,566

10           NW3 (Hampstead)          £1,356,136

11           NW8 (St John’s Wood)   £1,346,406

12           N6 (Highgate)    £1,270,784

13           SW6 (Fulham)    £1,182,375

14           GU25 (Virginia Water)    £1,157,212

15           W2 (Paddington)              £1,120,720

16           WC2 (Holborn) £1,090,780

17           W14 (West Kensington)                £1,088,074

18           NW11 (Hampstead Garden Suburb)        £1,074,662

19           SW14 (Mortlake)              £1,015,536

20           KT11 (Cobham)                 £1,006,788

 

Highest value towns

1              Virginia Water, Surrey    £1,186,262

2              Cobham, Surrey               £1,003,400

3              Keston, London                £947,955

4              Esher, Surrey     £931,669

5              Richmond, Surrey            £906,770

6              Beaconsfield, Buckinghamshire                 £897,872

7              Chalfont St. Giles, Buckinghamshire        £836,434

8              Gerrards Cross, Buckinghamshire             £815,222

9              Radlett, Hertfordshire   £794,569

10           Weybridge, Surrey          £785,400

11           East Molesey, Surrey     £763,085

12           Hartfield, East Sussex     £731,246

13           Harpenden, Hertfordshire           £721,701

14           Ascot, Windsor & Maidenhead £719,163

15           Henley-on-Thames, Oxfordshire              £711,385

16           Teddington, London       £711,221

17           Windlesham, Surrey       £699,075

18           Brockenhurst, Hampshire            £685,879

19           Leatherhead, Surrey      £685,066

20           London, London               £678,307

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