The quantity of homes for sale priced at one £1m-plus has doubled (+103%) since pre-pandemic ranges in 2019.
This is in accordance 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 slightly below 3% in 2019.
The evaluation examined homes for sale between January and April 2025 after which in contrast these figures towards the identical 4 months in 2019.
Compared with earlier than the pandemic, Cornwall has seen the most important enhance within the quantity of £1m-plus homes for sale. The quantity 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 quantity of million-pound homes for sale, with Westminster, Kensington & Chelsea and Wandsworth topping the record.
Mole Valley has emerged as the world which is more and more changing 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 change into the newest space to achieve a mean 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 outdoors of London with a mean asking worth of £1m or extra. Since then, that quantity has greater than doubled to 66.
Commenting on the info, Rightmove’s property knowledgeable Colleen Babcock stated: “The surge in £1m homes for sale throughout Great Britain is substantial. Since 2019, we’ve seen the quantity of million-pound homes for sale double, with over 5% of the market now priced at one million kilos or extra.”
She added: “The quantity of areas outdoors of London the place the common worth is one million kilos or extra has additionally greater than doubled, exhibiting that the million-pound mark is changing into extra widespread in numerous areas.”
