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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