The number of British property millionaires in Britain topped 300,000 last year with 64% of them living in capital as the property market's love affair London shows no sign of waning
You’d be forgiven for thinking that London’s streets are paved with gold, for while the rest of the country was dealing with the aftermarth of the hemorrhaging property market, the capital has been basking in a, seemingly impenetrable, bubble.
Super-rich buyers from home and abroad have sent demand and prices sky-rocketing as they vie for a slice of London’s (limited) luxury property market.
According to the latest research by Zoopla, 2012 saw a 19% increase in the number of nationwide property millionaires in Britain, meaning that more than 300,000 of us now own homes worth more than £1m.
Sadly none of the Housetohome team are among this exclusive gang but, unsurprisingly, a whopping 182,000 Londoners do make the grade.
An astonishing 36,815 property millionaires were created in the capital alone last year. That’s (now don’t choke on your toast) 100 new property millionaires every single day.
You’re most likely to find members of this burgeoning club in Kensington and Chelsea, which is home to more than 36,000 property millionaires, despite being the smallest London borough, followed closely by Westminster and Camden.
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And the place with the lowest number of property millionaires? That would be Wales – but the chances are you’ll get a little bit more square metre for your money.
Check out Zoopla.co.uk for more information on the property shown: 7 bedroom period home with swimming pool and substantial landscaped gardens