The number of home owners in Britain whose listing is worth £1 million or more has exceeded half a million for the first time, according to new research.
The number of so called listing millionaires now stands at 524,306, an increase of 8.3% on last year’s figure and almost 11,000 streets now have an average listing value above £1 million, the data from Zoopla shows.
Of the 10,958 streets with average listing prices over £1 million some 43% are located in London. Areas outside the capital with the highest proportion of £1 million plus streets are all in Surrey, with Guildford, Leatherhead and Richmond housing 158, 154 and 144 respectively.
At the very top end of the market, the data shows there are now 13 streets in Britain where the average house price is over £10 million, all of which are in London. Kensington Palace Gardens in W8 ranked as the country’s most expensive street overall, with homes there worth £42,591,972 on average, over 150 times the average national listing value.
The Boltons in SW10, where a nine bedroom detached house sold for £51 million in April, takes second place, with average listing values standing at £30,288,586. Grosvenor Crescent in the exclusive suburb of SW1 rounds out the top three, with an average listing price of £22,752,425.
While exclusive London boroughs boast most of Britain’s priciest listings, certain areas of Surrey and Buckinghamshire have also acquired a reputation for very high listing values. Virginia Water and Cobham, both in Surrey, top the towns table, with average listing prices of £1,208,638 and £1,037,825 respectively. Beaconsfield in Buckinghamshire, where the average listing value amounts to £982,660, comes in third.
In terms of postcodes, W8 in Kensington, remains top of the heap, boasting average listing prices of £2.77 million. Neighbouring SW7 in Knightsbridge is the next most expensive area in the capital with average values of £2.43 million, while listing values in third placed SW3 in Chelsea stand at £2.24 million.
‘London continues to be the epicentre of the million pound listing market in Britain but there are a number of high value listing areas outside the capital, 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,’ said Lawrence Hall of Zoopla.
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Source: Property News Spain