In Britain, half a million property owners are millionaires

Rising property prices have doubled the number of millionaire property owners over the past 3 years, with more than half of them in London.

Over half a million people in Britain are considered to be “millionaire property owners”, a figure that has doubled over the past three years.

Approximately 524,306 people are estimated to live in a property valued at over one million pounds sterling (approximately €1,400,000) according to the list compiled by the website Zoopla.

There are approximately 10,958 streets where the average property price exceeds one million pounds sterling. 4,700 are located in London, but there are also 3,700 in South East England, 121 in Scotland, 17 in Wales and 53 in North East England. There are even 13 streets in London where the average price is £10 million (approximately €14 million)!

A recent study also showed that following the election of the Conservative Party, property prices continued to rise.

British bank HALIFAX has seen an increase in mortgage applications since that date. While applications were growing at an average rate of 8.6% over the previous 12 months, they rose to 9.6% since May last year.

Experts confirm that buyers were reassured by the stability shown by the Conservative Party and its new majority, particularly given the party’s commitment to supporting property owners.

The website Zoopla reveals that streets outside London with an average price of over one million pounds sterling are primarily located in the Surrey region, with towns such as Guildford, Leatherhead and Richmond.

The London street Kensington Palace Gardens is the most expensive in the country with houses advertised at an average price of £42.6 million (nearly €60 million)!

In chic South West London, a house sold in The Boltons street for £51 million. The average price there is £30.3 million (approximately €42,600,000).

Lawrence Hall, from Zoopla, considers that “While London remains the epicentre of the millionaire property market in Britain, our list reveals a number of properties outside the capital, particularly in the Surrey and Buckinghamshire regions, which remain attractive areas for professionals wishing to live outside the capital while still being able to access it easily, and offer a pleasant environment with good schools “.

Top 10 most expensive streets in Britain (average price)

1. Kensington Palace Gardens, London, W8, £42,591,972
2. The Boltons, London, SW10, £30,288,586
3. Grosvenor Crescent, London, SW1X, £22,752,425
4. Courtenay Avenue, London, N6, £19,609,231
5. Ilchester Place, London, W14, £13,718,746
6. Compton Avenue, London, N6, £12,049,363
7. Manresa Road, London, SW3, £11,600,920
8. Grosvenor Gardens, London, SW1W, £11,321,413
9. Cottesmore Gardens, London, W8, £11,037,133
10. Frognal Way, London, NW3, £10,702,421

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Top 10 most expensive cities in Britain (average price)

1. Virginia Water, Surrey, £1,208,638
2. Cobham, Surrey, £1,037,825
3. Beaconsfield, Buckinghamshire, £982,660
4. Keston, London, £976,354
5. Esher, Surrey, £969,337
6. Richmond, Surrey, £939,652
7. Chalfont St Giles, Buckinghamshire, £920,797
8. Radlett, Hertfordshire, £843,814
9. Gerrards Cross, Buckinghamshire, £828,974
10. Weybridge, Surrey, £799,828

Number of streets where the average price is over £1 million +

1. London, 4,735
2. South East England, 3,697
3. East of England, 1,350
4. South West England, 398
5. North West England, 234
6. West Midlands, 146
7. Scotland, 121
8. East Midlands, 104
9. Yorkshire and Humber, 99
10. North East England, 53
11. Wales, 17
12. Northern Ireland, 4

Source: Telegraph