Latest news with #millionpoundhomes
The Sun
14 hours ago
- Business
- The Sun
One in every 20 homes for sale in Britain is now priced at more than £1million as number doubles in six years
ONE in every 20 homes for sale in Britain is now priced at more than £1million, figures suggest. Property website Rightmove said that the number has doubled in six years. It recorded 103 per cent more homes above the threshold between January and April 2025, than in the same period in 2019. It means more than five per cent of properties are at least £1million, compared with less than three per cent six years ago. In London's commuter belt areas, such as St Albans, Windsor and Maidenhead, Three Rivers and Waverley, about one in every five homes for sale now has a price tag of at least seven figures. Cornwall has had the biggest increase in its numbers, with the pandemic rush for seaside space fuelling demand. And, while London still has the highest concentration of £1million-plus homes, all the areas with the biggest increase in numbers are outside the capital. Toby Leek, from the National Association of Estate Agents, said: 'Buyers want varying characteristics and locations, making rural, seaside and picturesque areas more appealing.' Property expert Colleen Babcock said: "The surge in million-pound homes for sale across Great Britain is substantial. "This isn't just happening in London; places like Cornwall, Uttlesford, and Somerset are also seeing big jumps in the number of high-value properties. "Mole Valley is a standout, with 22% of its homes for sale now in the million-pound bracket." We lived in one of the UK's most expensive seaside towns but house prices were mental - so we saved £293k by packing up and moving abroad 1
Yahoo
a day ago
- Business
- Yahoo
Million-pound property hotspots revealed as one in 20 homes ‘priced in bracket'
Around one in every 20 homes for sale in Britain is now priced at £1 million-plus, according to a property website. Rightmove said the number of homes for sale at a seven-figure price point has doubled in the past six years. It recorded a 103% increase in homes at this price point between January and April 2025, compared with the same period in 2019. Just over 5% of homes for sale across Britain are now priced at a million pounds or more, compared with just under 3% in 2019, Rightmove said. In London commuter belt locations such as St Albans, Windsor and Maidenhead, Three Rivers, and Waverley, around one in every five homes for sale now have a million-pound price tag. Cornwall has seen the biggest surge in the number of £1 million-plus properties on the market for sale compared with before the coronavirus pandemic, according to the website. Many seaside locations saw a 'race for space' among home buyers during the pandemic. But London still has the biggest concentration of million-pound homes for sale, with Westminster, Kensington and Chelsea and Wandsworth topping the list. Colleen Babcock, a property expert at Rightmove, said: 'The surge in million-pound homes for sale across Great Britain is substantial. 'Since 2019, we've seen the number of million-pound homes for sale double, with over 5% of the market now priced at a million pounds or more. 'This isn't just happening in London; places like Cornwall, Uttlesford, and Somerset are also seeing big jumps in the number of high-value properties. 'Mole Valley is a standout, with 22% of its homes for sale now in the million-pound bracket.' Local areas included in Rightmove's research were those with at least 10 or more homes for sale during the time periods analysed. Here are the areas with the biggest increase in the volume of million-pound properties for sale, according to Rightmove, comparing January to April 2025 with the same period in 2019: 1. Cornwall, South West, 246% 2. Uttlesford, East of England, 233% 3. Somerset, South West, 226% 4. North Yorkshire, Yorkshire and the Humber, 210% 5. Wealden, South East, 201% 6. Wiltshire, South West, 193% =7. Test Valley, South East, 188% =7. Chelmsford, South East, 188% 9. Tunbridge Wells, South East, 183% 10. East Hampshire, South East, 177% Here are the areas with the biggest increases in the proportion of million-pound properties for sale, according to Rightmove, with the proportion for sale at this level in the 2025 period compared with 2019: 1. Mole Valley, South East, 22%, 10% 2. Waverley, South East, 22%, 11% 3. Windsor and Maidenhead, South East, 23%, 13% =4. St Albans, East of England, 18%, 9% =4. Richmond upon Thames, London, 33%, 24% =6. Tunbridge Wells, South East, 15%, 7% =6. Elmbridge, South East, 33%, 25% =6. Cotswold, South West, 14%, 6% =6. Three Rivers, East of England, 21%, 13% =6. Buckinghamshire, South East, 16%, 8% And here are the areas with the biggest concentrations of million-pound homes, according to Rightmove: 1. Westminster, London 2. Kensington and Chelsea, London 3. Wandsworth, London 4. Buckinghamshire, South East 5. Camden, London 6. Hammersmith and Fulham, London 7. Barnet, London 8. Richmond upon Thames, London 9. Elmbridge, South East 10. Lambeth, London Error in retrieving data Sign in to access your portfolio Error in retrieving data
BBC News
a day ago
- Business
- BBC News
Surrey districts see fast rise in houses costing over £1m
One in five properties in Mole Valley are now worth £1m or more, according to a property website. The area is one of three Surrey districts included in a list of the fastest increases in the proportion of million-pound homes in the last six years, by property website Rightmove. Mole Valley has seen the biggest rise in this category with a 12% increase, while Elmbridge and Waverley grew by 11% and 8% respectively. Colleen Babcock, a property expert at Rightmove, said Mole Valley was "a standout". One in five properties in Waverley is valued at more than £1m while the figure stands at one in four in Elmbridge. Just over 5% of homes for sale across Britain are now priced at £1m or more, compared with just under 3% in 2019, Rightmove website says the Covid-19 pandemic has driven property demand outside the capital and into commuter belt locations, citing Waverley as an example. Additionally Elmbridge has the ninth biggest concentration of million-pound homes in England, Wales and Scotland. Ms Babcock said: "Since 2019, we've seen the number of million-pound homes for sale double, with over 5% of the market now priced at a million pounds or more."This isn't just happening in London; places like Cornwall, Uttlesford, and Somerset are also seeing big jumps in the number of high-value properties."Elsewhere in the South East, Tunbridge Wells saw a 183% rise in volume of million-pound or more homes since before Covid. Local areas included in Rightmove's research were those with at least 10 or more homes for sale during the time periods analysed.
Telegraph
a day ago
- Business
- Telegraph
One in 20 properties now worth £1m or more
The number of £1m-plus homes for sale has doubled as Britain's race for space intensifies, a property website has found. One in 20 homes on the market is now priced at seven figures or more, 103pc more than six years ago, Rightmove found. Cornwall saw the largest increase with a 246pc rise, while 22pc of homes for sale in Surrey's Mole Valley now cost £1m or more. London retained the largest concentration of high priced homes for sale, with Westminster and Kensington and Chelsea topping the list ahead of Wandsworth. The data, released by Rightmove, showed there were twice as many homes listed at £1m or more between January and April 2025 compared to the same period in 2019. Property prices have increased in recent years, particularly in seaside locations, after city homeowners sought extra space amid the rise in opportunities to work from stamp duty holiday and low interest rates also pushed up prices. Colleen Babcock, of Rightmove, said the surge was 'substantial'. She said: 'Since 2019, we've seen the number of million-pound homes for sale double, with over 5pc of the market now priced at a million pounds or more. 'This isn't just happening in London. Places like Cornwall, Uttlesford, and Somerset are also seeing big jumps in the number of high-value properties. 'Mole Valley is a standout, with 22pc of its homes for sale now in the million-pound bracket.' Areas with 10 or more homes for sale were included in Rightmove's research. Cornwall had the largest increase in seven-figure listings, followed by Uttlesford with 233pc and Somerset on 226pc. After Mole Valley, Waverley and Windsor and Maidenhead saw the biggest increases in proportion of houses priced at that level. All three areas had at least a 10pc rise. Eight of the top 10 areas with the highest concentration of million-pound plus houses were in London, with Buckinghamshire and Elmbridge also making the list. Toby Leek, president of the National Association of Estate Agents Propertymark, said: 'The popularity and desire for our London capital remains strong, and with that comes increasing house prices, particularly in certain 'high-value' pockets such as Kensington and Chelsea. 'However, with huge social and economic changes happening, especially over the past decade, trends have shifted. Homeowners are looking for varying characteristics and locations, making rural, seaside and picturesque outer London areas much more appealing.' The figures come after second home owners were hit with huge bills after more than 200 local authorities brought in a 100pc council tax premium from April 1, enabled by rules introduced under the Conservatives. Telegraph analysis found that 2,000 second home owners in popular holiday hotspots could face bills of £10,000 or more across both their residences. The average second home owner will now see their tax bill rise 77pc to £3,672 in 2025-26.
Yahoo
a day ago
- Business
- Yahoo
Million-pound property hotspots revealed as one in 20 homes ‘priced in bracket'
Around one in every 20 homes for sale in Britain is now priced at £1 million-plus, according to a property website. Rightmove said the number of homes for sale at a seven-figure price point has doubled in the past six years. It recorded a 103% increase in homes at this price point between January and April 2025, compared with the same period in 2019. Just over 5% of homes for sale across Britain are now priced at a million pounds or more, compared with just under 3% in 2019, Rightmove said. In London commuter belt locations such as St Albans, Windsor and Maidenhead, Three Rivers, and Waverley, around one in every five homes for sale now have a million-pound price tag. Cornwall has seen the biggest surge in the number of £1 million-plus properties on the market for sale compared with before the coronavirus pandemic, according to the website. Many seaside locations saw a 'race for space' among home buyers during the pandemic. But London still has the biggest concentration of million-pound homes for sale, with Westminster, Kensington and Chelsea and Wandsworth topping the list. Colleen Babcock, a property expert at Rightmove, said: 'The surge in million-pound homes for sale across Great Britain is substantial. 'Since 2019, we've seen the number of million-pound homes for sale double, with over 5% of the market now priced at a million pounds or more. 'This isn't just happening in London; places like Cornwall, Uttlesford, and Somerset are also seeing big jumps in the number of high-value properties. 'Mole Valley is a standout, with 22% of its homes for sale now in the million-pound bracket.' Local areas included in Rightmove's research were those with at least 10 or more homes for sale during the time periods analysed. Here are the areas with the biggest increase in the volume of million-pound properties for sale, according to Rightmove, comparing January to April 2025 with the same period in 2019: 1. Cornwall, South West, 246% 2. Uttlesford, East of England, 233% 3. Somerset, South West, 226% 4. North Yorkshire, Yorkshire and the Humber, 210% 5. Wealden, South East, 201% 6. Wiltshire, South West, 193% =7. Test Valley, South East, 188% =7. Chelmsford, South East, 188% 9. Tunbridge Wells, South East, 183% 10. East Hampshire, South East, 177% Here are the areas with the biggest increases in the proportion of million-pound properties for sale, according to Rightmove, with the proportion for sale at this level in the 2025 period compared with 2019: 1. Mole Valley, South East, 22%, 10% 2. Waverley, South East, 22%, 11% 3. Windsor and Maidenhead, South East, 23%, 13% =4. St Albans, East of England, 18%, 9% =4. Richmond upon Thames, London, 33%, 24% =6. Tunbridge Wells, South East, 15%, 7% =6. Elmbridge, South East, 33%, 25% =6. Cotswold, South West, 14%, 6% =6. Three Rivers, East of England, 21%, 13% =6. Buckinghamshire, South East, 16%, 8% And here are the areas with the biggest concentrations of million-pound homes, according to Rightmove: 1. Westminster, London 2. Kensington and Chelsea, London 3. Wandsworth, London 4. Buckinghamshire, South East 5. Camden, London 6. Hammersmith and Fulham, London 7. Barnet, London 8. Richmond upon Thames, London 9. Elmbridge, South East 10. Lambeth, London
