“Property Millionaires”

July 13, 2015

Zoopla the property company revealed through their research  that the number of British homeowners with a property worth £1 million or more now stands at 524,306, an increase of 8.3% in the last year as property prices rise.

In Britain there are now 10,958 streets where the average house price exceeds £1 million, 43% of those are in London alone, the most expensive is  Kensington Palace Gardens, W8 where the average house price is worth a staggering £42.5 million.

Lawrence Hall from Zoopla reportedly said: “London continues to be the epicentre of the million-pound property market in Britain.” going on to say that a number of other high-value property areas are growing outside the capital city: “particularly in Surrey and Buckinghamshire, that are very attractive to professionals seeking to live outside yet within easy reach of the city and enjoy low crime rates coupled with good schools.”

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Minister Accepts Supply-Demand Pressures Increasing Rents

In response to comments by Treasury Minister, Emma Reynolds MP, that rental prices “are ultimately determined by the total supply of housing, relative to demand”, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “The Minister is right. Rents are going up because there are simply not enough properties to meet demand, and…
Read More →
Breaking News

The Property Redress annual report

50% of cases resolved through early resolution despite 20% rise in complaints, 56% increase in amount awarded for decisions and 31% rise in agency expulsions  The annual report on complaints received against their property agent members by Property Redress is released today. In its eleventh year, the report from the UK’s largest lettings redress provider…
Read More →
Breaking News

Foxtons Full Year Results 2024

47% earnings growth1 driven by significant Sales market share gains2 and strong returns from Lettings acquisitions. Next phase of the growth plan now firmly in focus. Foxtons Group plc (LSE:FOXT) (“the Group” or “Foxtons”) has delivered another year of growth. Strengthened operational capabilities, combined with strong returns from Lettings acquisitions, have underpinned 47% earnings growth. The Group…
Read More →
Estate Agent Talk

What is commonhold? What estate agents need to know

Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP On Monday 3 March, the government published a Commonhold White Paper and announced plans to bring the sale of new leasehold flats to an end. So what does this mean for the sale of leasehold properties, both now and over the next…
Read More →
Estate Agent Talk

Roller Garage Doors: 7 Essential Buying Tips.

Roller garage doors vary in quality, design, and the components used. Recognising these variations is essential when making a purchase, as it ensures you choose a product that provides long-term benefits. Here are seven key factors to consider: 1. Environmental Impact For superior insulation, sectional garage doors may be a better option, even though roller…
Read More →
Breaking News

Glenigan Construction Index: Pockets of regional resilience, do little to offset faltering confidence

The value of underlying work starting on-site during the three months to February decreased 6% and remained 17% below 2024 levels as activity remains relatively stagnant Lowered expectations on economic recovery dent residential construction, with starts down 10% on the preceding three months, slashed by 14% against 2024 figures Non-residential project starts decreased 2% against…
Read More →