The variety of homes for sale priced at one £1m-plus has doubled (+103%) since pre-pandemic ranges in 2019.
This is in line with a brand new report from property platform Rightmove, which additionally reveals that simply over 5% of UK property for sale is now priced within the £1m or extra bracket in contrast with just below 3% in 2019.
The evaluation examined homes for sale between January and April 2025 after which in contrast these figures in opposition to the identical 4 months in 2019.
Compared with earlier than the pandemic, Cornwall has seen the largest enhance within the variety of £1m-plus homes for sale. The variety of properties on this bracket has greater than tripled (+246%) in six years. Uttlesford is second (+233%) and Somerset is third (+226%).
As anticipated, London has the biggest variety of million-pound homes for sale, with Westminster, Kensington & Chelsea and Wandsworth topping the checklist.
Mole Valley has emerged as the realm which is more and more turning into a million-pound market for patrons. Over a fifth (22%) of homes for sale in Mole Valley are priced at £1m or extra, a rise of 12% in six years.
The London Borough of Richmond has turn out to be the newest space to achieve a median asking worth of over £1m for the primary time. The common asking worth for a house within the Borough of Richmond is now £1,106,981.
Rightmove’s report reveals that again in 2019, there have been 30 areas exterior of London with a median asking worth of £1m or extra. Since then, that quantity has greater than doubled to 66.
Commenting on the info, Rightmove’s property skilled Colleen Babcock stated: “The surge in £1m homes for sale throughout Great Britain is substantial. Since 2019, we’ve seen the variety of million-pound homes for sale double, with over 5% of the market now priced at 1,000,000 kilos or extra.”
She added: “The variety of areas exterior of London the place the common worth is 1,000,000 kilos or extra has additionally greater than doubled, exhibiting that the million-pound mark is turning into extra widespread in numerous areas.”
