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Almost half a million Brits are now property millionaires

Almost half a million Brits are now property millionaires

Almost half a million Brits are now property millionaires

According to property website Zoopla, 484,081 flats and houses in Britain are now worth over a million pounds, a rise of more than 50% on last year’s figure of 300,142.

Additionally there are around 10,000 streets in the UK where the average property costs over a million pounds, 3,744 of which are in London.

The most expensive street in the UK is London’s Kensington Palace Gardens with an average property price of £42.7 million and excellent returns for those who can afford a property there, according to Zoopla’s Lawrence Hall.

Kensington’s W8 is also the most expensive postcode in the UK with an average price of £2,780,992. In second place is SW7 (Knightsbridge) valued on average at £2,482,353 followed in third by SW3 (Chelsea) at £2,369,520. All the UK’s top 20 most expensive post codes were based in London apart from KT11 (Cobham) in Surrey, which had an average value of £1,006,788.

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